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While the government has built some resources in the Oil Stabilization Fund, the build-up has been less than that of some of Mexico's rating peers. Moreover, unlike other investment grade oil exporters, Mexico is not using the opportunity presented by higher oil prices to build resources in the Oil Stabilization Fund, which could be used at a time when oil prices decline. Moreover, the authorities have not used the opportunity presented by higher oil prices to build significant resources in the oil stabilization fund to reduce their vulnerability to an eventual decline in oil prices. |
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