“The flexible credit line is a precautionary instrument that reinforces the reserve of international assets and thus complements the tools of the Mexican authorities to face adverse external conditions and preserve economic and financial stability,” detailed the agencies.
For its part, the IMF stressed that the Mexican government has successfully maintained macroeconomic, fiscal and financial stability despite the complex economic environment.
The previous flexible credit line with the IMF was worth around $ 61 billion and Mexico has expressed its desire to request a further reduction in access at the midterm review next year.
Last August, Mexico received 12,117 million dollars (mdd) via Special Drawing Rights (SDR) from the Fund.
Banxico reported that this transfer was made in order to provide additional liquidity to the world economic system by strengthening the international reserves of the member countries.
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