CORRECTED-EMERGING MARKETS-Mexican peso slips on Pemex debt concerns, Peru's sol dips

 (Corrects to remove reference to Brazilian real in 7th
paragraph, Brazilian equities in next-to-last and last
paragraphs, and Brazilian equities and currency in table as
Brazil markets were closed on Thursday for a local holiday.)
    * Mexican peso leads falls in Latin American currencies
    * Pemex under pressure to resume debt repayments
    * Peru declares state of emergency at Cuajone copper mine

    By Shreyashi Sanyal
    April 21 (Reuters) - Mexico's peso touched its lowest level
in a month on Thursday after state oil firm Pemex came under
pressure to make debt repayments, while Peru's sol slipped after
a state of emergency was declared at a top copper mine. 
    The peso slid 1.1%, hitting 20.20 against the dollar
at one stage and leading falls among Latin American currencies.
    Cash-strapped Petroleos Mexicanos has struggled with years
of declining crude production and in 2020 Pemex lost its coveted
investment-grade debt rating.
    It is due to pay some 1 billion euros ($1 billion) to redeem
a 2015 bond, two sources with knowledge of the matter told
Reuters, despite President Andres Manuel Lopez Obrador's promise
that his government would pay them until 2024.
    Peru's sol, meanwhile, fell 0.4% against the dollar
after the world's second biggest copper producer declared a
state of emergency near Southern Copper Corp's Cuajone
    The Andean nation has been hit by protests at top mines
which has halted 20% of its copper output. Prices of the metal
bounced on Thursday.
    Most other emerging market currencies remained in a narrow
range in choppy trading. Chile's peso was flat, while
Colombia's peso dipped 0.1%. 
    The MSCI's Latin American currencies index
shed 0.3%, with investors digesting hawkish calls from developed
world central banks. 
    The U.S. Federal Reserve headed for perhaps its swiftest
shift in monetary policy since the 1960s as it aimed for its key
interest rate to hit its "neutral" level by year's end to tame
surging inflation.
    "Previous Fed tightening cycles have been important triggers
for several EM financial crises, including in Latin America in
the 1980s and in Asia in the late 1990s," said Thomas Mathews,
markets economist at Capital Economics. 
    Mathews added that rising interest rates in developed
markets has created fiscal risks in vulnerable emerging markets
in the past, and run the risk of drying up the international
capital flows needed to fund current account deficits.  
    Latin American stocks fell 0.2%.
    Key Latin American stock indexes and currencies at 1454 GMT:
         Stock indexes                  Latest   Daily %
 MSCI Emerging Markets                  1087.52    -0.74
 MSCI LatAm                             2586.98    -0.16
 Mexico IPC                            54293.31     0.86
 Chile IPSA                             4966.24    -0.17
 Argentina MerVal                      93139.62    0.627
 Colombia COLCAP                        1632.42     -0.2
             Currencies                 Latest   Daily %
 Mexico peso                            20.1802    -0.98
 Chile peso                               816.9    -0.39
 Colombia peso                          3751.01     0.12
 Peru sol                                 3.728    -0.40
 Argentina peso (interbank)            114.1000    -0.11
 Argentina peso (parallel)                  196     1.79

($1 = 0.9203 euros)

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by
Alexander Smith)