The Mexico City Economic Commission is in the process of finalizing an exit strategy for President Enrique Peña Nieto, according to reports.
The decision is being made under the guise of a new strategy for the country, according the Mexican state-owned newspaper El Universal.
Mexico’s economy has been in freefall since Peña and his leftist government assumed power in December.
In February, the peso was trading at around $15 a dollar.
President Peña has sought to appease his critics by maintaining the same policy of economic austerity, which has led to a sharp drop in inflation and wages.
However, he has been unable to stem the flow of migrants and refugees who have poured into the country since 2014, and is facing growing public discontent.
In a statement on Monday, Peña said he was committed to building a new era of cooperation and co-operation with the United States and other partners.
The president said that the Mexican economy was moving toward a new normal and he was determined to restore economic growth and employment, adding that Mexico will remain committed to supporting the American people and the U.S. economy.
Follow the latest developments on the Trump administration’s trip to Mexico.
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