Mexico: Selected Issues

Volume/Issue: Volume 2004 Issue 250

Publication date: August 2004

ISBN: 9781451955613

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Inflation , Money and Monetary Policy , Public Finance , ISCR , CR , dollar , price , Euro rate , U , S , dollar rate , adequacy ratio , dollar movement , Inflation , Exchange rates , Dollarization , Reserves accumulation , Global , Europe , Africa , North America , Western Hemisphere

Also of interest

Spain

Grenada

Nepal

Peru

Summary

This Selected Issues paper analyzes reserve adequacy in Mexico. Reserve adequacy has been of renewed interest, as the authorities have introduced a new rules-based mechanism of U.S. dollar sales to reduce the rate of reserve accumulation. The paper examines the recent experience with Mexico’s fiscal management tools in light of the need for further consolidation. It reviews evidence on the cyclical behavior of fiscal policy in Mexico, finding that it has generally been procyclical since the early 1990s. The paper also examines the determinants of inflation in Mexico since 1997.