IMF approves larger credit line to Mexico
Fund confident Mexico's "policies will remain strong"
The executive board of the International Monetary Fund expressed confidence in Mexico's "strong policy framework" as it expanded its flexible credit line (FCL) to $88 billion on May 27.
Under its previous agreement, Mexico was entitled to $67 billion through the FCL. Mexican authorities have stated they will treat the new two-year arrangement as "precautionary" – the credit is only meant to be drawn on in a crisis.
"This flexible access is justified by the very strong track records of countries
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