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IMF cuts Mexico economic outlook as oil output falls

Wednesday, November 18, 2015

The International Monetary Fund on Tuesday trimmed its economic growth forecasts for Mexico citing a decline in oil production, which funds nearly a third of the country's budget.

In its yearly analysis of Latin America's second-largest economy, the IMF also urged the central bank to taper foreign exchange intervention aimed at stemming the peso's deep slide, arguing it would sap reserves over time.

Source: Reuters