November 27, 2018 / 9:38 PM / 20 days ago

IMF cuts Mexico's flexible credit line to $74 bln from $86 bln

MEXICO CITY, Nov 27 (Reuters) - The International Monetary Fund (IMF) said Mexico met requirements for a flexible credit line, but trimmed the amount to $74 billion over the next twelve months, Mexican financial authorities said in a statement on Tuesday.

Last year the IMF approved an $86 billion credit line.

The statement added that Mexico’s current and incoming government agreed to request the lower amount due to decreased risks from “an abrupt change in Mexico’s trade relations.” (Reporting by Sharay Angulo)

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