Word: zedillo
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Mexico's economy was proceeding smoothly, guided by former President Carlos Salinas de Gortari, when the country collided with the insurgency of its campesinos and, like the Titanic, began to sink [Mexico, Jan. 9]. New President Ernesto Zedillo Ponce de Leon has inherited a sinking ship, and he is not sure what steps to take to keep Mexico afloat. Foreigners like to invest in a country where there are prospects of a good return and the political scene is calm and controlled. But at the first sign of civil unrest, the investments will stop and moneys will be pulled...
Mexico is undergoing a temporary cash-flow problem, but President Zedillo is meeting the crisis head on and supplying candid answers to a very long list of questions. The International Monetary Fund and many major banks, as well as the U.S. government's optimistic and helpful position, will undoubtedly make both international and local investors once more feel comfortable about putting many, if not all, of their eggs in the Mexican basket...
President Ernesto Zedillo, just seven weeks in office, signed a pact with the main opposition parties to deliver reformed federal and state voting laws and to honor the results of all free and fair elections. According to opposition leaders, the signers agreed privately to hold new balloting in the unruly southern states of Tabasco and Chiapas, where widespread fraud was reported in last year's elections. In Washington the Clinton Administration's proposed $40 billion bailout of the weakened peso met with stiff opposition from Democrats...
...band of rebels has reason to be awed at the impact of its efforts. Army units were rushed in not only to combat the rebels but also to help improve the life of peasants by building clinics, schools and roads. Government public works projects picked up speed. President Ernesto Zedillo Ponce de Leon even resumed negotiations. Reacting to those talks, guerrilla leader Comandante Tacho may be forgiven if he sounds a bit smug when he declares, ``Mr. Zedillo has said positive things...
...What Zedillo announced in Mexico City last week was an accord among the country's four largest political parties that will ultimately loosen the hold on power of his Institutional Revolutionary Party, not only in Chiapas but also throughout the country. The document promises electoral reforms at both federal and state levels to put an end to corrupt campaign practices and fraudulent vote counts. It will also allow the election of Mexico City's mayor, until now chosen by the President. ``Mexico was the ugly duckling of democracy,'' exulted Interior Minister Esteban Moctezuma, as he waited for his car after...