October 20, 2019 / 11:31 PM / 22 days ago

IMF says it will remain 'strong partner' to Mexico

FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks during a closing news conference for the International Monetary Finance Committee (IMFC), during the IMF and World Bank's 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler/File Photo

MEXICO CITY (Reuters) - The International Monetary Fund will remain a “strong partner” of Mexico, the organization’s managing director, Kristalina Georgieva, said on Sunday following a meeting with the heads of the Mexican Finance Ministry and central bank.

“The Fund will continue to be a strong partner as Mexico seeks to deliver economic stability and prosperity for all Mexicans,” Georgieva said on Twitter.

Georgieva met with Mexican Finance Minister Arturo Herrera and Bank of Mexico Governor Alejandro Diaz de Leon.

Herrera has said the government is in talks with the IMF to renew a flexible credit line, which will be slightly reduced.

The IMF recommended earlier this month that Mexico reconsider its position of limiting private companies’ cooperation with state-owned oil company Pemex, whose debt is weighing heavily on the government’s finances.

Reporting by Anthony Esposito; Editing by Peter Cooney

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