Posted on 05/30/2016 8:57:29 AM PDT by Lorianne
The International Monetary Fund on Friday boosted its flexible credit line with Mexico to $88 billion in a bid to support Latin America's No. 2 economy, whose currency has been battered by global volatility.
The fund said it canceled a previous flexible credit line, which was for $67 billion and approved on November 26, 2014. The new credit line will last for two years, the fund said.
Mexico's macroeconomic policies "remain very strong," but there are risks given global market volatility, David Lipton, IMF first deputy managing director and acting chair, said in a statement.
Mexico's peso was little changed following the announcement.
Mexico has been one of the most orthodox adherents among emerging markets to IMF doctrine — such as a freely floating currency — and only Colombia and Poland have received similar credit lines.
(Excerpt) Read more at ibtimes.com ...
I wonder where IMF gets all that money
“I wonder where IMF gets all that money”
They manufacture it like the Fed does and then you have to pay them back with real assets.
The IMF is simply in the business of “chrome plating turds!” Mexico, like Greece, should be force to go under (along with California, Illinois, Maryland and New Jersey).
You know, if someday drug dealers finally figure out just how many billions are sitting on the table, waiting to be taken, a whole lot of political systems will undergo a dramatic change.
Great. They can tap it to pay for the wall.
Mexico is a kleptocracy with endemic corruption. I wouldn’t loan them a 3-dollar bill.
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