LatinNews Daily - 18 November 2022

In brief: IMF affirms Mexico’s continued access to credit line

*The International Monetary Fund (IMF) has concluded that Mexico continues to qualify for a US$50bn two-year flexible credit line (FCL) first approved in November 2021. The IMF stated that, “Mexico continues to qualify for the FCL by virtue of its very strong fundamentals and institutional policy frameworks and track record of economic performance and policy implementation.” The IMF noted that, although Mexico’s recovery from the coronavirus (Covid-19) pandemic was underway, “a more turbulent external environment, a surge in global inflation and tighter global financial conditions, and slowing US economic activity present new challenges and risks to the recovery.” Due to these external pressures, the IMF stated that the credit line would “continue to play an important role in supporting the authorities’ macroeconomic strategy by providing insurance against tail risks and bolstering market confidence.”

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