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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 ...
USD/MXN exchange rate Mexico inflation rate 1970-2022. The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.
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]
Default [23] 1890: Baring crisis [23] 1982: Latin American debt crisis [23] 1988–89: Latin American debt crisis [23] 2001: Following years of instability, the Argentine economic crisis (1999–2002) came to a head, and a new government announced it could not meet its public debt obligations. [23] 2005–16: Argentine debt restructuring. 2014 ...
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.
MEXICO CITY (Reuters) -Mexican President Claudia Sheinbaum on Monday rolled out her administration's roadmap to make the nation one of the world's top economies by the time she leaves office.
In 2020, Mexico was the world's eleventh largest merchandise exporter and thirteenth largest merchandise importer, representing 2.4% and 2.2% of world trade, respectively (and those rankings increased to 7th and 9th if the EU is considered a single trading entity). [235] From 1991 to 2005, Mexican trade increased fivefold. [236]
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.