Mexico: Selected Issues

International Monetary Fund

No 2013/333, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes reforms to Mexico’s fiscal framework. Mexico’s resilient economic performance would be consolidated by increasing fiscal policy buffers and preparing for challenges associated with long-term budget pressures. In the short term, reducing public debt levels can create space to implement countercyclical fiscal policies and reduce exposure to high financing and hedging costs, which would protect Mexico’s credit rating at times of distress. The paper highlights that recent fiscal reform is designed with these policy objectives in mind, to build on the strengths of the previous fiscal framework.

Keywords: ISCR; CR; commodity gap; expenditure; commodity; NPL ratio; oil revenue; growth cap; LLP ratio; price boom; commodity cycle; Credit risk; Nonperforming loans; Fiscal stance; Oil prices; Global; credit risk modeling; International Monetary Fund Washington; D.C.; C. modeling credit risk; Caribbean (search for similar items in EconPapers)
Pages: 49
Date: 2013-11-26
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