The Inter-American Development Bank has approved a USD1 billion loan aimed at boosting Mexico’s economic and fiscal stability.
The loan will help Mexico carry out tax and other economic-related reforms that the government passed in 2009. It will also support the implementation of a consistent accounting system at all levels of government.
“The approval of the ‘Program to Support the Consolidation of Fiscal Sustainability’ is a recognition of the policies undertaken by Mexican authorities to mitigate the impact of the international financial crisis on the economy, strengthen national public finances and improve the quality of fiscal management,” the bank said in a statement.
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