The credit line is equivalent to approximately 61,000 million dollars, the statement details.
“The IMF confirms that Mexico meets all the necessary qualification criteria to access, if required and without any conditions, to the resources of the LCF,” he says.
The agency mentioned some points made after its review of national finances:
“1. A sustainable public debt and healthy public finances, with a fiscal policy supported by the law and manageable debt risks.
2. Low and stable inflation, as well as well-anchored medium and long-term expectations, in the context of a solid monetary and exchange-rate policy framework.
3. A record of stable access on favorable terms from the Government to international capital markets.
4. An adequate position of international reserves. • A robust and solvent financial system, as well as effective supervision of the sector. “
This line of credit is precautionary in nature and complements the economic policies of the Mexican authorities to face adverse external conditions and preserve economic and financial stability.
“The LCF is an instrument that reinforces international reserves. The authorities reaffirm their commitment to sound and responsible macroeconomic policies, which contribute to stability and a vigorous and sustained economic reactivation,” said the Foreign Exchange Commission.