Cemex is "advancing well" toward resolving its financial problems, Mexican Finance Minister Agustin Carstens said on Saturday.

Cemex, is dealing with massive debt and the weak U.S. economy and analysts have warned it could run out of cash by summer if it does not renegotiate millions of dollars in maturing obligations.

"Cemex is advancing well and will be able to satisfactorily deal with its problems," Carstens told reporters on the sidelines of the Inter-American Development Bank meeting in Medellin.

Source: Reuters