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IMF says reaffirms Mexico's $86bn flexible credit line
MEXICO CITY: The International Monetary Fund on Tuesday said it reaffirmed Mexico's access to a flexible credi
MEXICO CITY: The International Monetary Fund on Tuesday said it reaffirmed Mexico's access to a flexible credit line worth about $86 billion dollars that the country could use to stabilize its currency in cases of extreme volatility.
The IMF said Mexico expressed that it treated the 2-year- line approved last year as "precautionary." The IMF first extended a flexible credit line to Mexico in 2009 and it boosted the amount last year as the peso was battered to a record low.
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