Mexico agrees new, reduced IMF credit line worth $50 billion

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FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington

MEXICO CITY – Mexico has agreed a new flexible credit line over two years with the International Monetary Fund (IMF) worth some $50 billion, the Washington-based fund said on Friday.

The previous credit line with the IMF was worth around $61 billion, and Mexico had expressed a desire to pursue a further reduction in the level of access at a mid-term review next year, the fund said in a statement.

(Reporting by Diego Ore; Editing by Daina Beth Solomon)