Mexican financial crisis persists; political reforms set

Article Abstract:

Mexico Pres Ernesto Zedillo devalued the peso on Dec 20, 1994, and the action caused severe financial and economic problems for the country. He announced a plan to stabilize the economy on Jan 3, 1995, that allowed the peso to continue floating. The US may guarantee up to $40 million in loans.

Economic aspects, Political reform, Foreign loans

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Mexico accepts U.S. terms for $20 billion rescue package; austerity measures are imposed

Article Abstract:

The US agreed to loan Mexico $20 billion on Feb 21, 1995, in return for promises that Mexico would impose interest rate hikes and other austerity measures to restore confidence in the nation's economy. Mexico will receive a total of $52 billion in international aid from various sources.

United States, Foreign investments, United States foreign relations, Mexican foreign relations

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Zedillo sets new economic plan

Article Abstract:

Mexican Finance Minister Guillermo Oritz introduced a number of austerity measures on Mar 9, 1995, in an effort to stabilize Mexico's economy. The value-added-tax will be increased from 10% to 15%, and prices on gasoline and other basic commodities will also rise.

Prices and rates, Oritz, Guillermo

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