Mexico should use a windfall from its central bank to further tighten its belt this year as it suffers from a drop in revenue from lower oil prices, a senior official of the International Monetary Fund said on Wednesday.
Earlier this month, the Finance Ministry received a transfer of 239 billion Mexican pesos ($13.6 billion) from the central bank from part of the gains made on dollar reserves in 2015 because of a sharp currency depreciation.
Mexico had already announced budget cuts for this year and has said it will further dial back spending next year since a global . . .
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