IMF-墨西哥：2025年第四条磋商新闻稿；员工报告；墨西哥执行主任的发言（英）

© 2025 International Monetary Fund IMF Country Report No. 25/286 MEXICO 2025 ARTICLE IV CONSULTATION—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR MEXICO Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2025 Article IV consultation with Mexico, the following documents have been released and are included in this package: • A Press Release summarizing the views of the Executive Board as expressed during its October 23, 2025, consideration of the staff report that concluded the Article IV consultation with Mexico. • The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on October 23, 2025, following discussions that ended on September 12, with the officials of Mexico on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on October 8, 2025. • An Informational Annex prepared by the IMF staff. • A Statement by the Executive Director for Mexico. The IMF’s transparency policy allows for the deletion of market-sensitive information and premature disclosure of the authorities’ policy intentions in published staff reports and other documents. Copies of this report are available to the public from International Monetary Fund • Publication Services PO Box 92780 • Washington, D.C. 20090 Telephone: (202) 623-7430 • Fax: (202) 623-7201 E-mail: publications@imf.org Web: http://www.imf.org International Monetary Fund Washington, D.C. October 2025 PR 25/350 IMF Executive Board Concludes 2025 Article IV Consultation with Mexico FOR IMMEDIATE RELEASE • The IMF Executive Board concluded the 2025 Article IV consultation. • Economic activity remains soft with the economy projected to grow by 1.0 percent this year, accelerating somewhat in 2026. Headline inflation is moderating and expected to converge to Banxico’s 3-percent target in the second half of 2026. • More ambitious and front-loaded fiscal consolidation, with policy measures to support it, is needed to prevent further upward drifts in public debt and create fiscal space to respond to possible shocks. Monetary easing should continue once it becomes clearer that inflation is on a path to the 3 percent target. Mexico’s potential growth hinges on closing infrastructure gaps, strengthening the rule of law, and deepening integration with global trading partners. Washington, DC – October 27, 2025: On October 23, the Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Mexico.1 The authorities have consented to the publication of the Staff Report prepared for this consultation.2 After expanding by 1.5 percent in 2024, the economy is projected to grow 1.0 percent in 2025, as activity is constrained by needed fiscal consolidation and restrictive monetary policy, as well as the dampening effect of trade uncertainty on co