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Mexico gets cash to repay U.S.: Mexico will use the proceeds from the sale of 1 billion deutsche marks, or $699 million, of five-year bonds to repay some of the money it owes the U.S. following a bailout in December, Finance Minister Guillermo Ortiz said. The cash from the German bond sale will go to repay the $6 billion currency swap agreement Mexico used to stabilize the peso in the wake of its devaluation on Dec. 20. As a result of the peso’s collapse, Mexico’s inflation rate is expected to top 50 percent this year.
