Go Finance Reporting - The International Monetary Fund (IMF) will increase the credit to Mexico amounted to USD72 billion as the country grappled with the impact of global recession continued, officials said on Monday.
The IMF said in a statement as quoted by the Straits Times, Tuesday (01/11/2011), said that the executive board of the company has increased its loan credit with a term of two years up to USD47 billion, nearly a year ago.
This will be the largest loan that is flexible has ever granted by the IMF. Although these loans likely will never be withdrawn. "Mexican authorities to improve this agreement as a precaution," said board chairman, John Lipsky.
But he added that this new credit will play a stronger role in guaranteeing Mexico against external risks in addition to continuing to support the authority of the overall macroeconomic strategy. (GoFinance)
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