IMF renews Mexico’s Flexible Credit Line
The International Monetary Fund (IMF) has renewed the Flexible Credit Line (FCL) it has been offering Mexico since 2009.
On November 19, the fund’s executive board approved a new two-year programme that will make available $50 billion for Mexico in the event the country suffers balance of payments problems. Over the last few years, the Mexican authorities have progressively reduced the size of the FCL – the IMF approved credit of up to $61 billion in November 2019.
Mexico intends to continue
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