Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

World Bank lends Mexico $300 mn to counter fiscal risks

Mexico,Business/Economy, Fri, 23 Mar 2012 IANS

Mexico City, March 23 (IANS) The World Bank has announced a $300 million loan to Mexico to shield it from fiscal risks.


The loan seeks "a more effective implementation of public spending in the country and greater budget stability, transparency, disaster risk management and sub-national level debt management", the World Bank said in a statement Thursday.


"We recognize Mexico's efforts in implementing fiscal risk management policies, which have allowed it to successfully confront external shocks, reduce the impact of global economic and financial volatility and respond appropriately to the country's social and economic priorities," said Gloria M. Grandolini, World Bank Director for Mexico and Colombia.


"In this way, the comprehensive approach proposed by Mexico will safeguard its programmed public spending," Xinhua quoted her as saying.


The bank said the program contemplates three major areas: improving budget transparency and stability, maximizing the government's capacity to respond to shocks produced by natural disasters and improving the regulatory framework for debt issuance at the subnational level.


"The program constitutes a central part of the WB's commitment with the country's economic development. It seeks to foster sustained, inclusive and rapid growth with a strong focus on protecting the most vulnerable population," the WB said.


Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.