Word: mexicans
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Dates: during 1980-1989
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...unable to repay foreign banks approximately $20 billion in loans that came due this year. The lenders extended the repayment period but also made the most of Mexico's desperate position by attaching a number of conditions to the debt extension. As a result, a significant share of the Mexican government's economic policies will come courtesy of the U.S. Department of Treasury, the Federal Reserve, the International Monetary Fund (IMF) and the World Bank...
...crisis arose under outgoing Mexican President Lopez Portillo whose term ended last month. Portillo had attempted an ambitious program of quick economic growth based on revenue from oil exports, and it brought Mexico a brief period of prosperity. But last year, the worldwide price of oil fell drastically, sending Mexico's economy reeling. The value of the peso plunged, and nervous Mexican businessmen began investing their money abroad. Finally, in late August of this year, Mexico was scheduled to erase about one fourth of its $81 billion debt--the largest in the world--and Portillo had to announce that...
...help. The Treasury and Federal Reserve came up with $3.7 billion in new loans and assistance and extended the repayment time for $18 billion in old loans. The U.S. also entered into talks with the largest lending institutions, the IMF and World Bank, to decide how the Mexican economy should be stabilized. The result was a new three-year IMF loan of $4.5 billion, backed by the credit...
Lawry's, best known for its Seasoned Salt, plans to market its Mexican foods to consumers, as cook-at-home products, and possibly also to Mexican fast-food outlets, which are expected to open soon in Europe. As for the Irish, they may soon be persuaded that spicy ground beef and lettuce are a nice change of pace from corned beef and cabbage...
...firm could not keep up with the strong demand in Western Europe for taco and tostado shells and seasonings, which it has been shipping from the U.S. to Sweden, Britain, Germany and other European countries for years. According to Lawry's officials, the Dublin facility is the first Mexican-food factory in Europe. Says Executive Vice President Thomas Fuelling: "We feel that Mexican food is the next step for European tastes. It is fun, it is healthy, it is easy to prepare, it is tasty, and it is cheap ... make that inexpensive...