Full text of District Notices (Federal Reserve Bank of Dallas) : Recent Economic Measures Announced by the Government of Mexico, Circular No. 88-74

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Federal Reserve Bank
OF DALLAS
W IL L IA M

H. W ALLACE

DALLAS, TEXAS 75222

FIRST V IC E PR ES ID EN T
AND C H IE F O PER ATING O FFIC E R

October 25, 1988

Circular 88-74

TO:

The individual addressed and other
interested parties in the Eleventh
Federal Reserve District
SUBJECT
Recent economic measures announced by the Government o f Mexico
DETAILS

Recently the Government of Mexico announced strengthened economic
policies designed to build upon the progress already achieved in the sustained
adjustment effort undergone by the Mexican economy. The Federal Reserve
System and the U.S. Treasury Department welcome these measures and believe
that they merit support.
Accordingly, the Federal Reserve and the U.S. Treasury are prepared
to develop a short-term bridge loan of up to $3.5 billion, depending on the
development of loans programs by Mexico with the World Bank and the
International Monetary Fund.
ATTACHMENTS

The press release on this subject as issued by the Board of Governors
of the Federal Reserve System is attached.

Sincerely yours,

For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are
encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800)
527-9200 (interstate).

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

FEDERALRESERVEpressrelease

For immediate release

October 17, 1988

The U.S. Treasury Department and Federal Reserve
welcome the economic measures recently announced by the
Government

of

Mexico.

The

U.S.

financial

authorities

believe that these measures build upon the progress already
achieved in the sustained adjustment effort undergone by the
Mexican economy.
the process

Mexico’s adjustment record,

of fiscal

consolidation and the

particularly
structural

transformation of its external sector, has established the
basic conditions

for the

renewal of

sustained economic

growth.
In the context of normal consultations between
countries with close economic relations, U.S. and Mexican
authorities have agreed that Mexico's strengthened economic
policies merit support.

Accordingly, the U. S. Treasury and

Federal Reserve are prepared to develop a short-term bridge
loan of up to $3.5 billion, depending on the development of
loan programs

by Mexico with

International Monetary Fund.

the World Bank and the