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The Mexican Weekend marked the beginning of the Latin American debt crisis. [citation needed] In August 1982, Mexican Secretary of Finance Jesús Silva Herzog Flores flew to Washington, D.C., to declare Mexico's foreign debt unmanageable, and announce that his country was in danger of defaulting. This crisis had long lasting impact over the ...
July 4 – 1982 Mexican general election 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.
The debt crisis of 1982 was the most serious of Latin America's history. Incomes and imports dropped; economic growth stagnated; unemployment rose to high levels; and inflation reduced the buying power of the middle classes. [8] In fact, in the ten years after 1980, real wages in urban areas actually dropped between 20 and 40 percent. [12]
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
Mexico suffered from a massive debt crisis in 1982, resulting in the country requesting emergency financing from the IMF. Despite an early period of economic success, a decline in oil prices and an increase in US interest rates caused Mexico to double its debt from 1979 to 1982 causing an excess inflation rate of nearly 60% of its GDP. [6]
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.
Eugenio Derbez plays an unorthodox teacher in a Mexican border city in the movie "Radical." (Pantelion via AP) "Radical," though, isn't set at an inner-city school in Los Angeles, New Jersey or ...
Drama, Sport. Based on a short story The Mexican. 1952 United States Mexico Viva Zapata! Elia Kazan: Biography, Drama, History, Western. Based on the book Zapata the Unconquerable. Emiliano Zapata: 1953 United States Wings of the Hawk: Budd Boetticher: Adventure, Romance, Western. 1955 Mexico The 7 leagues: El 7 leguas: Raúl de Anda: Adventure ...
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