Mexico: 2013 Review Under the Flexible Credit Line Arrangement
IMF Staff Country Reports, November 26, 2013
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- Mexico: 2013 Review Under the Flexible Credit Line Arrangement
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Bibliographic details
- Published: November 26, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475523997.002
Summary
- This paper discusses Mexico’ Review Under the Flexible Credit Line (FCL) Arrangement.
- Significant progress has been made in advancing far-reaching structural reforms, signaling Mexico’s commitment to address deep-rooted impediments to growth.
- The economy slowed down in early 2013, but is expected to recover starting in the second half of the year.
- Mexico’s financial markets have functioned reasonably well through the recent global volatility, although with some currency depreciation and a rise in long-term government bond yields.
- The IMF Staff recommends completion of the review under the FCL arrangement for Mexico, subject to the Board’s assessment in the context of the 2013 Article IV consultation.
Economic outlook and near-term dynamics
- Economy slowed down in early 2013.
- Expected recovery starting in the second half of the year.
Financial markets and external indicators
- Financial markets have functioned reasonably well through recent global volatility.
- Observed developments include some currency depreciation and a rise in long-term government bond yields.
Structural reforms and policy context
- Significant progress in advancing far-reaching structural reforms.
- Reforms signal Mexico’s commitment to address deep-rooted impediments to growth.
IMF assessment and recommendation
- IMF Staff recommends completion of the review under the FCL arrangement for Mexico.
- Recommendation is subject to the Board’s assessment in the context of the 2013 Article IV consultation.