Mexico needs no IMF loans, says president

 MEXICO CITY, May 27.  Mexico’s finances are solid and require no loans from the International Monetary Fund (IMF), Mexican President Andres Manuel Lopez Obrador said here Monday.

“We are not going to apply for new loans. We are not going to put the country in debt. We’re fine,” Lopez Obrador said at his daily press conference, referring to his scheduled meeting on Wednesday with IMF Managing Director Christine Lagarde.

“Fortunately we don’t need financial support. Things are going well, the nation’s economy is doing well,” said the president, who took office in December 2018.
The Mexican economy grew 1.2 percent year-on-year in the first quarter of 2019, according to the National Institute of Statistics and Geography (Inegi).

The gross domestic product (GDP) fell by 0.2 percent in the same period in comparison with the fourth quarter of 2018, Inegi said. Xinhua