November 30, 2018 / 6:21 PM / a year ago

U.S. formalizes potential $9 bln credit line to Mexico

MEXICO CITY, Nov 30 (Reuters) - Mexico and the United States signed an agreement on the sidelines of the G20 summit in Buenos Aires, formalizing an expanded line of U.S. credit to Mexico if the country faces a currency crisis, Mexico’s finance ministry said on Friday.

The two countries announced on Oct. 17 that Mexico can negotiate for up to $9 billion under a currency “swap line” with the U.S. Treasury Department, up from $3 billion under a deal last updated in 1994, when the North American Free Trade Agreement (NAFTA) took effect.

Reporting by Mexico City newsroom

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