May 23, 2017 / 1:12 PM / 2 months ago

IMF says reaffirms Mexico's $86 billion flexible credit line

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The International Monetary Fund logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016.Yuri Gripas

MEXICO CITY (Reuters) - The International Monetary Fund on Tuesday said it reaffirmed Mexico's access to a flexible credit line worth about $86 billion dollars that the country could use to stabilize its currency in cases of extreme volatility.

The IMF said Mexico expressed that it treated the 2-year- line approved last year as "precautionary." The IMF first extended a flexible credit line to Mexico in 2009 and it boosted the amount last year as the peso was battered to a record low.

Reporting by Michael O'Boyle

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