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*Mexico, IMF Discussions To Cut $63B Credit Line As Risks Ease (BBG)

MEXICO
  • (Bloomberg) Mexico and the IMF are discussing a plan to reduce the nation's $63 billion precautionary credit line by 20% when it comes due for renewal next month, after economic risks from the global pandemic subsided.
  • From the report:
  • "The IMF intends for country credit lines to be phased out over time, and the reduction is part of plans to do so for Mexico. The nation had been due to make the cut last November, but instead at that time won approval from the IMF to maintain the line at its current $63 billion based on risks from Covid-19."
  • "Reducing the credit line would cut the annual fee Mexico pays for access by almost $40 million, to $130 million."
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