## Mexico: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mexico

_IMF Staff Country Reports, October 27, 2025_

## Source details

**Canonical URL:** [Mexico: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mexico](https://www.imf.org/en/publications/cr/issues/2025/10/27/mexico-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-571378)

## Other formats

- [Markdown version](/en/publications/cr/issues/2025/10/27/mexico-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-571378/index.md)
- [Structured JSON version](/en/publications/cr/issues/2025/10/27/mexico-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-571378/index.json)
- [Bundle manifest](/en/publications/cr/issues/2025/10/27/mexico-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-571378/bundle-manifest.json)

## Bibliographic details
- Published: October 27, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229025140.002

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### Economic activity and growth
- Economic activity has been soft since mid-2024.
- The softness in activity has resulted in subdued growth in 2025.

### Headwinds and drivers of the slowdown
- Capacity constraints.
- Fiscal consolidation.
- Restrictive monetary policy.
- U.S. tariffs added to these headwinds, primarily through uncertainty eroding consumption and investment.

### Inflation and price dynamics
- Inflation has moderated.
- Underlying inflationary pressures have not been fully resolved.

### Thematic coverage and focus areas
- Economic sectors
- Expenditure
- Inflation, Prices
- Public debt
- Public sector

### Keywords emphasized in the report
- financial system
- fund holding
- Global
- Inflation
- inflation-targeting regime
- Public sector
- staff report
- Subnational finance

*International Monetary Fund, Mexico: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Mexico (October 27, 2025).*

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## Content in this bundle

- **Near-Term Impact of Tariffs and Trade Policy Uncertainty on Mexico**
  - [Near-Term Impact of Tariffs and Trade Policy Uncertainty on Mexico (Markdown version)](/-/media/files/publications/cr/2025/english/1mexea2025001-source-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Near-Term Impact of Tariffs and Trade Policy Uncertainty on Mexico (PDF)](/-/media/files/publications/cr/2025/english/1mexea2025001-source-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2025/10/27/mexico-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-571378_