1994 economic crisis in Mexico

The 1994 economic crisis in Mexico was an economic crisis that happened in December 1994 in Mexico. The crisis was triggered by the sudden devaluation of the peso in the early days of the presidency of Ernesto Zedillo. A week or so of intense currency crisis was stabilized when US President Bill Clinton decided to grant Mexico a loan to bail the country out, to the tune of US $50 billion.

Related Topics:
Economic crisis - December 1994 - Mexico - Devaluation - Peso - Ernesto Zedillo - Currency crisis - US - President - Bill Clinton

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The crisis is known in Spanish as el error de diciembre — "The December Mistake". In the Southern Cone and Brazil, the impact that the Mexican economic crisis had on the region was labeled the "Tequila Effect" (Spanish: Efecto Tequila, Portuguese: Efeito Tequila).

Related Topics:
Spanish - The December Mistake - Southern Cone - Brazil - Tequila Effect - Portuguese

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