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2. The main objective of the United Mexican States\' (UMS) public debt policy has been to cover its financing needs at the most favorable cost conditions, subject to a prudent level of riskThe positive evolution of local debt markets in Mexico has allowed the government to rely exclusively on domestic debt to finance its borrowing needs and to substitute external for domestic debtThe Debt Exchange Warrants are financial instruments that give the holder the right, but not the obligation, to ex9445

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