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Banxico head: Mexico could use IMF credit line in the event of Trump victory


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Banxico head: Mexico could use IMF credit line in the event of Trump victory

Mexicowould consider using its $90 billion flexible line of credit with theInternational Monetary Fundin the event of an external shock, such as victory by U.S. presidentialcandidate Donald Trump in the upcoming election, Agustin Carstens, the head ofthe country's central bank, Bancode México, said in an interview with El Economista.

"Wedon't have in mind the case of Trump specifically, but we have always had theprecaution to renew our flexible line of credit with the IMF," Carstenswas quoted as saying following his recent participation in the World Bank-IMFannual meetings in Washington D.C.

ButBanxico would be careful before borrowing from the IMF. "I don't mean tosay we will immediately use it, but we'll have to evaluate the circumstancesand be prudent," Carstens said.

Interms of the U.S. election to be held Nov. 8, the uncertainty surrounding theoutcome has fueled the depreciation of the Mexican peso, which is "undervalued,"Carstens said.

However,once the outcome is known, it should have a positive effect on markets, headded.