IMF says “you never recover before the cleaning up of the banking sector’: Mexico requests $47 billion credit line from Fund
Apr 2nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
IMF Managing Director Dominique Strauss-Kahn on Wednesday welcomed the request from Mexico for a $47 billionprecautionary credit line from the IMF and said he intended to move forward rapidly to seek approval from the Executive Board. Strauss-Kahn told the Financial Times that the fund’s experience from 122 banking crises suggested “that you never recover before the cleaning up of the banking sector has been done”.
