Mexico: Review Under the Flexible Credit Line Arrangement: Staff Report; and Press Release on the Executive Board Discussion

International Monetary Fund

No 2011/367, IMF Staff Country Reports from International Monetary Fund

Abstract: Mexico’s policy stance has focused on balancing domestic and external conditions, supporting the recovery while rebuilding policy buffers through fiscal consolidation and reserve buildup. Growth has remained resilient during the first half of 2011 and is expected to continue into 2012, albeit at a more moderate pace. Downside risks remain elevated, associated with possibly protracted low growth in the United States and bouts of heightened global risk aversion from unsettled market conditions in Europe. The Mexican peso has depreciated by about 8 percent in nominal effective terms since the beginning of the turmoil in Europe.

Keywords: ISCR; CR; debt; Mexico; dollar; exchange rate; core inflation; sustainability analysis; trade balance; debt ratio; Mexican peso; creating flow; debt sustainability framework; period debt stock; updated debt sustainability analysis; accounts payable; debt trajectory; inflation expectation; Public sector; Real interest rates; Exchange rates; Global; Europe (search for similar items in EconPapers)
Pages: 21
Date: 2011-12-22
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