The Mexican Economy

The Mexican Economy On December 20, 1994, in an attempt to make Mexican products more competitive, Mexican President, Ernesto Zedillo Ponce de Len, devalued the Mexican Peso. Unfortunately, attempts at keeping the Peso to only a fifteen percent devaluation failed. The Peso dropped almost forty percent (Roberts, 1). It went from 3.5 to almost 7.5 peso's to the dollar before it stabilized. The devaluation not only sent shockwaves through the Mexican economy, but through the rest of the world. Why …

…with greater magnitude. Works Cited Work Cited "U.S. Aid Package to Mexico." Editorial. U.S. Department of State Dispatch. 6 Feb 1995: 78 - 79. Charles Lane. "Who Lost Mexico." The New Republic. 20 Feb. 1995: 16 - 18. Tim Zimmerman. "The art of the deal." U.S. News & World Report. 13 Feb. 1995: 57 - 61. Gary McWilliams. "A BORDER TOWN FEELS THE PESO'S PINCH." Business Week. 6 Mar 1995: America Online. Paul Craig Roberts. "MEXICO: DON'T BLAME SALINAS FOR ZEDILLO'S MISTAKES." Business Week. 4 Mar 1996: America Online.