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IMF approves new $88 billion for Mexico

Monday, May 30, 2016

The International Monetary Fund on Friday boosted its flexible credit line with Mexico to $88 billion in a bid to support Latin America's No. 2 economy, whose currency has been battered by global volatility.

The fund said it canceled a previous flexible credit line, which was for $67 billion and approved on November 26, 2014. The new credit line will last for two years, the fund said.

Source: Reuters