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Article: MEXICAN & U.S. LEGISLATORS RAISE STRONG OBJECTIONS TO PRESIDENT BILL CLINTON'S RESCUE PACKAGE FOR MEXICAN ECONOMY
- Article from:
- SourceMex Economic News & Analysis on Mexico
- Article date:
- March 8, 1995
CopyrightCOPYRIGHT 1995 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In late February and early March, legislators in both the US and Mexico raised strong objections to the international rescue package of US$50 billion coordinated by US President Bill Clinton's administration.
The total package--which includes loan guarantees of US$20 billion from the US, US$20 billion from the International Monetary Fund (IMF), and US$10 billion from the European-based Bank for International Settlements (BIS)--was announced in late January (see SourceMex, 02/22/95).
In return for the package of loan guarantees, President Ernesto Zedillo's administration agreed to take steps to support the peso, limit inflation, reduce government spending, and ...