WASHINGTON, April 17 (Reuters) - The International Monetary Fund on Friday approved a previously agreed $47 billion line of credit for Mexico, the first country to qualify for the new lending facility for strong-performing emerging economies.

"The Mexican authorities have stated they intend to treat the arrangement as precautionary and do not intend to draw on the line," the IMF said in a statement. (Reporting by Lesley Wroughton; Editing by Leslie Adler)