IMF Review Closes Chapter on Big Mexico Loan Deal
September 10, 2000 - 0:0
WASHINGTON The International Monetary Fund gave Mexico's economy a new seal of approval on Friday, completing its third and final review of an economic reform program underpined by an IMF loan.
A brief IMF statement said details from the review would be made public next week.
"The Executive Board of the International Monetary Fund today completed the third and final review under the standby credit for Mexico," the global lender said.
The completion of a review signals that the IMF is satisfied with economic progress in a country.
Mexico announced last week that it had repaid its remaining debts to the IMF, closing the books on one of the institution's largest loans.
It has already said it does not intend to draw on the latest standby loan, which was approved last year.
Mexico turned to the IMF for large-scale help during a deep currency crisis in 1994-5. But its economy has bounced back to health, helped in recent months by stronger oil prices and an improving climate for investment.
(Reuter)
A brief IMF statement said details from the review would be made public next week.
"The Executive Board of the International Monetary Fund today completed the third and final review under the standby credit for Mexico," the global lender said.
The completion of a review signals that the IMF is satisfied with economic progress in a country.
Mexico announced last week that it had repaid its remaining debts to the IMF, closing the books on one of the institution's largest loans.
It has already said it does not intend to draw on the latest standby loan, which was approved last year.
Mexico turned to the IMF for large-scale help during a deep currency crisis in 1994-5. But its economy has bounced back to health, helped in recent months by stronger oil prices and an improving climate for investment.
(Reuter)