## Statement by David Lipton, First Deputy Managing Director of the IMF, at the Conclusion of His Visit to Mexico

_IMF News, July 18, 2017_

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## Bibliographic details
- Published: July 18, 2017

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### Visit summary
- Visit dates: July 16–18, 2017.
- Press Release No. 17/289; statement dated July 18, 2017.
- Meetings with: Bank of Mexico Governor Agustín Carstens, Finance Secretary José Antonio Meade, Foreign Affairs Secretary Luis Videgaray, academics, and representatives of the private sector.
- Media contact listed: PRESS OFFICER: Aaron Ranck & Andrew Kanyegirire; Phone: +1 202 623-7100; Email: MEDIA@IMF.org.

### Economic assessment and resilience
- “The Mexican economy is demonstrating resilience and is in strong position to manage risks and pressures from global economic and financial environment.”
- Mexico “continues to grow and show resilience.” This resilience is attributed to:
  - “the country’s fundamentals,”
  - “prudent macroeconomic management,” and
  - “a very strong policy framework, which underpins Mexico’s qualification for a Flexible Credit Line Arrangement with the IMF.”
- Mexico “remains in a good position to manage risks and pressures emanating from the global economic and financial environment.”

### Identified risks and external uncertainties
- Key challenges and risks highlighted:
  - “a temporary rise in inflation,”
  - “uncertainty over the future of its trade relations,” and
  - “increased global financial market volatility.”
- On trade: “While uncertainty over future trade relations with Mexico’s largest trading partner has increased, the upcoming NAFTA negotiations offer an opportunity to update a 20-year old treaty in a way that would benefit Mexico and all the treaty’s signatories.”

### Structural reforms and policy recommendations
- Lipton emphasizes that “perseverance with structural reforms will be critical to boost growth potential.”
- Specific reform areas and expected outcomes:
  - Energy reform: “energy reform now underway will also allow for an increase in oil production over the next twenty years.”
  - Labor markets: “More flexible labor markets, together with better enforcement of workers’ rights and stronger tax compliance, will reduce incentives to remain in the informal sector.”
- Governance and transparency: “Further enhancing governance and transparency are key ingredients to improve business confidence, productivity and foster more inclusive growth in Mexico.”

### Governance, anti-corruption, and reform implementation
- Positive note on recent measures: Lipton is “heartened by the authorities’ measures in this area, including the 2015 Constitutional reform that led to the creation of the National Anti-Corruption System.”
- Emphasis on implementation: “Completing implementation of the reforms remains an important part of the anti-corruption effort.”

### IMF engagement and outlook
- Lipton: “I am encouraged by the determination of the Mexican authorities to address the challenges facing the Mexican economy.”
- IMF role: “The IMF will continue to be Mexico’s partner as it continues to work towards improving the outlook for a better and more prosperous future for its citizens.”

*Statement by David Lipton, First Deputy Managing Director of the IMF, at the Conclusion of His Visit to Mexico (July 18, 2017).*

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## References

- [David Lipton](http://www.imf.org/external/np/omd/bios/dl.htm)
- [Mexico and the IMF](http://www.imf.org/external/country/MEX/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2017/07/18/pr17289-statement-by-imf-david-lipton-at-the-conclusion-of-visit-to-mexico_