Mr. Speaker, I am delighted to respond to the hon. member who has taken a great interest in this in her capacity as vice-chair of the Canada-Mexico parliamentary association.
As she knows, Canada contributed a currency swap facility of up to $1.5 billion as part of the overall international assistance package for Mexico in which the United States and the IMF obviously took a major role.
I am delighted to say that Canada was able to help Mexico when it ran into trouble with the peso in 1994. Our help has paid off. Inflation is down and the Mexican economy is growing again.
I am also delighted to say that Mexico has been able to repay the United States three years ahead of schedule. It is ahead of its repayment schedule to the IMF. And quite some time ago Mexico repaid Canada in full.
This is good news for Mexico, good news for Canada and good news for the world.