Financial and Banking News

INTERNATIONAL BANKING

Mexico Gets First of the New Cash, Venezuela Backtracks 

Agreement was reached last week on the first stage of Mexico's breakthrough financing which had been negotiated with the IMF (MEES, 28 July). Last week's agreement relates to a $1.6bn 'contingency fund' - essentially a bridging loan which was to have been quickly put in place in order to protect Mexico's foreign exchange reserves pending final negotiation of...