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posted 2009-04-01
Suspicious growing up on external debt?
The International Monetary Fund (IMF) has granted a 47 billion dollars flexible credit line (FCL) to Mexico. The contingent resources available have been tagged by the Finance Ministry as a preventive source; which could be used to strengthen Mexico´s defenses against the financial crisis.


 





G-20 Declaration

April 02, 2009. 18:16

The G-20 leaders´ statement issued on April 2, 2009 at the London Summit pointed six consensus topics:
-restore confidence, growth, and jobs;
-repair the financial system to restore lending;
-strengthen financial regulation to rebuild trust;
-fund and reform our international financial institutions to overcome this crisis and prevent future ones;
-promote global trade and investment and reject protectionism, to underpin prosperity; and
-build an inclusive, green, and sustainable recovery.

The G-20 declaration also recognizes the importance of the continuity of capital flow to emerging markets and developing countries; as a result, the leaders agreed to make available an additional $850 billion of resources through the global financial institutions to support growth in emerging market and developing countries by helping to finance counter-cyclical spending, bank recapitalization, infrastructure, trade finance, balance of payments support, debt rollover, and social support.

It highlights that the leaders literally made a recognition and support to the decision made on April 1, 2009 by the Mexican Government to seek a Flexible Credit Line (FCL) of 47 billion dollars from the International Monetary Fund (IMF).

The complete statement can be accessed at:
G-20 Leaders´ Statement

DoingBusinessInMexico Staff
Published: April 02, 2009. 18:16 | Last updated: April 02, 2009. 18:18
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