علاقات المكسيك وصندوق النقد الدولي

يتناول هذا المقال علاقة المكسيك بصندوق النقد الدولي.

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التاريخ

أصبحت المكسيك عضواً في صندوق النقد الدولي في 31 ديسمبر 1945، بعد أربع أيام من تأسيس صندوق النقد الدولي رسمياً. منذ عام 1945، وصلت إلى حقوق السحب الخاصة (SDRs) بقيمة 8.912 بليون، التي تمثل 1.87% من إجمالي حقوق السحب الخاصة في صندوق النقد الدولي. الحاكم هو خوسيه أنطونيو ميدى، وللبلاد 90.591 صوت.[1]

تم الموافقة على اتفاقيتين ماليتين بمبلغ 47.292 مليار وحدة حقوق سحب خاصة سنوياً في عامي 2012 و2014.[2]

الاتفاقية المالية الأخيرة تم الموافقة عليها في 26 مايو 2016، قيمتها 62.3889 بليون وحدة حقوق سحب خاصة. من المتوقع أن تستمر هذه الاتفاقية المالية مع صندوق النقد الدولي لمدة عامين.[3]


أزمة الديون المكسيكية 1982

In August 1982, Mexico was one of the first of various Latin American countries to default on foreign debt. As a result of this, the IMF approved a 4 billion loan (in USD) to the Mexican government. However, conditions applied that worked to reform the Mexican economy. The programs and conditions that applied to the Mexican debt crisis lasted for three years.[4]

Prior to the 1982 debt crisis, Mexico enjoyed a period of economic stability. This changed in 1976, when a change of president and an alteration of fiscal policy led to a recession. This led to the country being granted an economic stabilization program through the IMF, one of the first programs of this nature to be installed in Mexico by the IMF .[5]

أزمة الپيسو المكسيكي 1994

In 1994, a currency crisis in Mexico resulted in the devaluation of the Mexican peso, which resulted in a severe financial crisis. The currency crisis has been said to have been brought on by the new fiscal policies created by the government at the time. The Mexican Peso Crisis was extremely severe. At the same time, major organizations such as the International Monetary Fund, the World Bank, and other major banks, such as J.P. Morgan, praised the Mexican economic reforms of the time, claiming that the country's reforms were effective in bettering the economy.[6]

In the month of December, the government changed Presidents and cabinet, which resulted in a transformation of fiscal policy. Within the course of December 15 - December 21, approximately 5.5 billion USD left the country, and by the end of December, the Mexican peso's devaluation was 35%. 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. However, the United States stepped in and increased this rescue package to 50 billion USD with the aid of private banks, the IMF, and the Bank for International Settlements.[7]

خط الائتمان المتزايد 2009

As of 2009, the Mexican government requested an increase in credit line from the IMF. This was approved[8] by the IMF in the same year, increasing Mexico's credit line to $47 billion USD. A notable feature about this increase is that it is one of the new arrangements under the new IMF lending reforms or the Flexible Credit Line.[9] 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.

تطبيع السياسة النقدية الأمريكية على عائدات السندات السيادية المكسيكية

The International Monetary Fund has published within "Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico’s Sovereign Bond Yields" (Goes, C.; et al., 2017) Using vector error-correction models, we find that the U.S. 10-year bond yield was a key driver of long-term yields in these countries, and that Brazilian yields were more sensitive to U.S. shocks than Mexican yields during 2010–13. Remarkably, the propagation of shocks from U.S. long-term yields was amplified by changes in the policy rate in Brazil, but not in Mexico. Our counterfactual analysis suggests that yields in both countries temporarily overshot the values predicted by the model in the aftermath of the Feds' “tapering” announcement in May 2013. This study suggests that emerging markets will need to contend with potential spillovers from shifts in monetary policy expectations in the U.S., which often lead to higher government bond interest rates and bouts of volatility.[10]

المصادر

  1. ^ "IMF Members' Quotas and Voting Power, and IMF Board of Governors". www.imf.org. Retrieved 2017-06-06.
  2. ^ "Financial Position in the Fund for Mexico as of May 31, 2017". www.imf.org. Retrieved 2017-06-13.
  3. ^ "Financial Position in the Fund for Mexico as of May 31, 2017". www.imf.org. Retrieved 2017-06-13.
  4. ^ Felix, David (1990). "Latin America's Debt Crisis". World Policy Journal. 7 (4): 733–771. JSTOR 40209191.
  5. ^ "The Mexican 1982 debt crisis". Rabobank (in الإنجليزية). Retrieved 2017-06-06.
  6. ^ Edwards, Sebastian (1998-01-01). "The Mexican Peso Crisis: How Much Did We Know? When Did We Know It?". World Economy (in الإنجليزية). 21 (1): 1–30. doi:10.1111/1467-9701.00117. ISSN 1467-9701.
  7. ^ "Redirecting..." heinonline.org. Retrieved 2017-06-06. {{cite web}}: Cite uses generic title (help)
  8. ^ https://www.imf.org/external/pubs/ft/scr/2009/cr09126.pdf
  9. ^ "IMF Survey: IMF Approves $47 Billion Credit Line for Mexico". www.imf.org (in الإنجليزية). Retrieved 2017-06-06.
  10. ^ Góes, Carlos; Kamil, Herman; Zook, Jeremy; Garcia-Escribano, Mercedes; De Imus, Phil; Perrelli, Roberto; Roache, Shaun. "Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico's Sovereign Bond Yields". International Monetary Fund. IMF. Retrieved 2 July 2017.
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