Word: gdp
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Dates: during 1986-1986
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...usual, the IMF is requiring Mexico to restrain its public spending, but the country will be allowed to run a budget deficit that amounts to 10% of its gross domestic product. Earlier in the negotiations, the IMF had wanted Mexico to trim its deficit to 5% of GDP. The new loans are intended to help Mexico boost its growth rate from an estimated -4% this year to 3.5% in 1987. If the economy falls short of this goal, or if the price of oil drops below $9 per bbl., the agreement calls for additional loans. In return, Mexico pledged...