May 23, 2017 / 1:12 PM / 6 months ago

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

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 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. REUTERS/Yuri Gripas

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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