Good Credit

Agustín Carstens has announced that Mexico will receive a line of credit from the IMF worth about $47 billion. The goal is to lower interest rates and stablize the currency here. Bloomberg says that this is more than was expected, and markets are surging in response. Mexico's independence from international financial organization in comparison to other Latin American nations has long been a source of pride (no one talks about the loans in 1995 without mentioning in the next breath that they were paid back ahead of time), so I'll be interested to see the various takes on this.