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IMF approves 2-year, $88 bln flexible credit line for Mexico
November 30, 2017 / 4:07 PM / 12 days ago

IMF approves 2-year, $88 bln flexible credit line for Mexico

MEXICO CITY, Nov 30 (Reuters) - The International Monetary Fund on Thursday said it approved for Mexico a 2-year flexible credit line worth about $88 billion that will replace a previous line.

The IMF said in a statement that the line had been approved as a precaution in case of a crisis. Mexico was first extended such a credit line from the IMF in 2009 but Latin America’s No. 2 economy has never tapped the funds. (Reporting by Michael O‘Boyle Editing by Chizu Nomiyama)

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