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Mexico

IMF Approves New Two-Year $88 Bln Flexible Credit Line for Mexico

The fund said it canceled a previous flexible credit line, which was for $67 billion and approved on November 26, 2014

IMF Managing Director Christine Lagarde speaks at a refugee crisis panel in Washington. April 13, 2016, photo: Reuters/Yuri Gripas, File
By Reuters Whatsapp Twitter Facebook Share
1 year ago

MEXICO CITY — The International Monetary Fund (IMF) on Friday boosted its flexible credit line with Mexico to $88 billion in a bid to support Latin America’s No. 2 economy, whose currency has been battered by global volatility.

The fund said it canceled a previous flexible credit line, which was for $67 billion and approved on November 26, 2014. The new credit line will last for two years, the fund said.

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