Mexico Rounds the Corner

Past Reforms Have Prevented a Full-Blown Crisis Mexico has suffered more than most countries from the global economic downturn as manufacturing declines were compounded by decreased oil prices, a flu epidemic, and reduced inflows of money from Mexicans in the U.S. Remarkably, the situation could have been much worse, economists say. Mexico had enacted fiscal policies following the 1994 “Tequila Crisis” and subsequent peso devaluation, and those helped the country avoid a full-blown crisis, according to a recent report on Mexico by the Organization for...

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