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Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision

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  • International Monetary Fund

Abstract

This paper presents a Detailed Assessment of Mexico’s compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision. Fiscal consolidation reduced the gross public debt-to-GDP ratio to below 50 percent, providing the foundations for a monetary policy able to bring inflation down to less than 4 percent, in the context of a floating exchange rate. These improvements have contributed to Mexico’s achievement of investment-grade rating, uninterrupted access to capital at low cost, and resilience to shocks, such as the Russian crisis.

Suggested Citation

  • International Monetary Fund, 2007. "Mexico: Financial Sector Assessment Program Update: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision and Transparency of Banking Supervision," IMF Staff Country Reports 2007/172, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2007/172
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