IMF renews Mexico’s Flexible Credit Line
Two-year programme reduces funds from about $61 billion to $50 billion
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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