The International Monetary Fund’s executive board called Mexico’s economy resilient “in the face of a complex external environment,” on Monday, adding that its “flexible exchange rate is playing a key role in helping the economy adjust to external shocks.” Mexico’s reduction of debt, shrinking deficit, and improving financial regulation were cited as among the factors that contributed to the IMF’s review. This year, the Mexican economy is expected to grow 2.1% driven mainly by private consumption, while 2018 growth is projected to slow slightly before picking up steam again. The Mexican peso spiked briefly against the dollar upon the release of the report. One dollar last bought 19.1536 pesos, up 0.2% from Friday.
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