IMF Extends Mexico Credit Line to Record $72 Billion
This article is for subscribers only.
The International Monetary Fund agreed to renew and boost to $72 billion a precautionary credit line to Mexico to help insure the country against external risks.
The two-year line, the biggest committed in the fund's history, replaces a one-year, $48 billion facility due to expire in April. Mexico, which made the request last month, took advantage of new rules for the credit-line program designed to encourage countries to turn to the fund before crises develop.