Mexico: Review Under the Flexible Credit Line Arrangement: Staff Report and Press Release on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2009 Issue 302

Publication date: July 2009

ISBN: 9781451825879

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , inflation targeting framework , policy , IMF's FCL , policy action , Executive Board discussion , review of Mexico's qualification , current account , Real interest rates , Fiscal stance , Public sector , Global

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Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

Mexico’s strong policy framework has helped cushion the impact of the global crisis. The staff report highlights Mexico’s review under the Flexible Credit Line Arrangement. The flexible exchange rate has adjusted, the inflation targeting framework has provided an anchor for expectations, and the fiscal rule and strengthened public sector balance sheets have averted disruptive moves in fiscal risk premia. Substantial liquidity has been provided to the foreign exchange market. Support has been put in place for a variety of domestic financial market segments.