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Mexico to receive $4 bn from IMF to bolster reserves

Category :International Sub Category :Americas
2009-08-29 00:00:00
   Views : 356

Mexico City, Aug 29 (EFE) Mexico will receive some $4 billion in special drawing rights, or SDRs, from the International Monetary Fund to bolster its reserves and liquidity, the country's central bank said.

Banco de Mexico said the funds are part of some $250 billion in payments approved for IMF members countries at an April G-20 meeting to inject more liquidity into the global financial system.

The central bank also said a special IMF allocation of some $33 billion would be made available to the 185 member countries; the allocation will be proportionate to the countries' relative size in the global economy.

It noted that Mexico will receive the $4 billion sum in two installments, the larger of the two on Friday and the second Sep 9.




Author :Indo Asian News Service



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