[1/3] Employees work at a stall in an outdoor market dedicated to the sale of fruits and vegetables, in Ciudad Juarez, Mexico July 27, 2023.
REUTERS/Jose Luis Gonzalez/File Photo Acquire Licensing RightsMEXICO CITY, Nov 16 (Reuters) - The International Monetary Fund's executive board has approved a two-year, $35 billion flexible credit line for Mexico, it said in a statement on Thursday, noting the Latin American country's economy is undergoing a broad-based expansion.
This is Mexico's tenth flexible credit line arrangement since 2009, and the country has reduced amounts of the lines granted in recent years, the IMF said.
In 2017, the IMF granted Mexico a credit line worth around $88 billion, which by 2021 was reduced to $50 billion.
Authorities will reassess the external risk outlook and their implications on access under the agreement in November 2024, the IMF added.
Persons:
Jose Luis Gonzalez, Gita Gopinath, Gopinath, Kylie Madry, Valentine Hilaire, Nick Zieminski
Organizations:
REUTERS, MEXICO CITY, Monetary Fund's, IMF, Thomson
Locations:
Ciudad Juarez, Mexico, MEXICO