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Article: MEXICO RECEIVES CREDITS OF US$23.7 BILLION TO STABILIZE ECONOMY BEFORE 2000 PRESIDENTIAL & CONGRESSIONAL ELECTIONS.
- Article from:
- SourceMex Economic News & Analysis on Mexico
- Article date:
- June 30, 1999
CopyrightCOPYRIGHT 1999 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In mid-June, Finance Secretary Jose Angel Gurria Trevino announced that the Mexican government had obtained US$23.7 billion in international credits and refinancing to protect the country from financial turmoil during and immediately after the 2000 presidential and congressional elections.
The package of credits, which Gurria referred to as "economic armor," includes US$16.9 billion in credits from multilateral institutions. The total includes a standby loan of US$4.2 billion from the International Monetary Fund (IMF), plus credits of US$3.5 billion from the Inter-American Development Bank (IDB) and US$5.2 billion from the World Bank. The US and Canadian ...