The leading director of Mexico on the IMF Executive Board is Pablo Moreno, with Alfonso Guerra, and José Andrés Romero serving as alternatives.
[2] Mexico's current governor is Rogelio Eduardo Ramirez de la O with Victoria Rodriguez Ceja serving as an alternative.
[4] As a result, in July 1948, Mexico informed the IMF that it could no longer maintain the par value of the peso that was established without further financial support.
[6] As a result, Herzog flew to Washington in order to meet with newly appointed IMF managing director Jacques de Larosière on August 13, 1982.
IMF support was promised on the condition that Mexico find a solution to avoid further defaults on future debt payments.
[6] The Bank for International Settlements also provided $1.85 billion, giving Mexico the short term funding in order to avoid becoming default.
This devaluation in the matter of a couple of weeks ultimately led to interventions by the IMF and other organizations affiliated with the group.
In January 1995, the IMF entered the scene and laid out a 7.8 billion bailout package that would aid Mexico in overcoming the crisis.
[16] This increase was meant to ensure that Mexico would be able to prosper despite global financial crises, and the program would last solely a year.
The 2008 financial crisis in the United States had a big impact on the Mexican economy because relations between both countries were close and friendly.
Their friendly economic relationship was namely due to NAFTA, which is a free trade agreement in North America between the United States, Mexico, and Canada.
The FCL, which is intended for economic crisis prevention and as an insurance policy, should anything happen within the economy[21] was approved by the IMF in 2021 for a two-year plan valuing $50 billion.
[22] Mexico has been lowering its FCL usage in response towards its economic growth and confidence in the reduction of financial risk over the years.
[24] Mexico faces pressure from the IMF to reform its economic policy and make changes to the proposed budget by President Obrador.