IMF approves $88-billion flexible credit line for Mexico

Washintgon -- The International Monetary Fund announced that it has approved a new $88-billion flexible credit line for Mexico.

The credit line is aimed at crisis prevention, the Fund said citing Mexican authorities.

The deal will continue to play an important role in supporting Mexico's macroeconomic strategy, as it provides insurance against external shocks and strengthens confidence in financial markets, said the Fund's managing director Christine Lagarde (above).

"The global risk environment has improved, but the risk of an abrupt change in Mexico's commercial relationships, or an increase in financial market volatility and an abrupt recovery in emerging markets, continues to be high," Lagarde said.

Photo: Notimex archive