Word: pesos
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Dates: during 1990-1999
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America the bully. America the bountiful. So it has always seemed from the Mexican side of the 2,000-mile-long divide. The peso's latest melodrama only proves the paradox in the eyes of many Mexicans. American investors pour speculative money into Mexico, then snatch it back when times grow hard and Mexico needs it most. The U.S. rides to the rescue, but imposes such harsh conditions that Mexico will be forced into recession...
...That's old-fashioned politics,'' he says, adding that he hopes to earn a master's degree in the U.S. to gain foreign experience. He will not emigrate, however: ``I love Mexico passionately. We have all the resources here, but they are not properly exploited.'' When Clinton announced the peso rescue package, Mexicali and Calexico rejoiced. ``San Guillermo is a man with vision,'' says a smiling Joaquin Ramirez Chacon about Bill Clinton. Ramirez Chacon employs 400 at his Pepsi bottling plant and sends his 10-year-old daughter to school in Calexico. As he puts it, ``You need...
...said President Salinas himself could be charged with impeding a probe of another killing -- the March 1994 shooting of PRI presidential candidate Luis Donaldo Colosio, whom Salinas had chosen as his successor. Now, formerly timid critics are blaming him, in part, for the Dec. 20 devaluation that sent the peso plummeting...
...says that Zedillo ``should have stepped in with a bridge loan or something'' to remove all fears of a default. The President did not, and the Mexican stock market dropped about 6% last Wednesday to a 17-month low. It recovered a bit by week's end, but the peso remained volatile, trading at one point at 6.4 to the dollar--its worst price yet--before recovering to close the week...
...financial bailouts--he headed the one that saved New York City from bankruptcy in the mid-1970s--complains that ``Mexico hasn't come up with any strategy at all'' and adds, ``I`m very worried.'' Financiers complain in particular that Mexico has not decided what to do about the peso--whether to let its price float or try to stabilize it within some range...