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Mexico Crude oil prices from 1861 to 2011. The Latin American debt crisis (Spanish: Crisis de la deuda latinoamericana; Portuguese: Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as La Década Perdida (The Lost Decade), when Latin American countries reached a point where their foreign debt ...
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The programs and conditions that applied to the Mexican debt crisis lasted for three years. [7] As a result of IMF involvement in Mexico following its economic crisis, many believe this marked the IMF's role of international crisis manager in Latin America. [8] Prior to the 1982 debt crisis, Mexico enjoyed a period of economic stability. This ...
Between 1977 and 1981 PEMEX oil production grew almost twofold from 1.086 million bbd to 2.313 million bbd*, and net exports 5-fold from 0.197 million bbd to 1.154 million bbd*, this led to a 4-year 9.1% average growth in the GDP, and even as inflation crept up higher from a high base above 20% yearly, the massive job creation and rapid wage pace kept the workers mood calm.
August 12 – Mexico announces it is unable to pay its large foreign debt, triggering a debt crisis that quickly spread throughout Latin America. September 1 – During his last government report, president José López Portillo nationalizes banks. December 1 – Miguel de la Madrid takes office as President of Mexico.
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