Mexico's Tequila Crisis
In January 1995 Mexico received a multi-billion dollar bailout from the US and the IMF to halt an economic melt-down caused by the sudden devaluation of its currency, the peso.
In January 1995 Mexico's economy went into melt-down following the sudden devaluation of its currency, the peso. The government was forced to seek a multi-billion dollar bailout from the US and the IMF. Witness hears from Luis de la Calle, a top Mexican official who helped negotiate the package.
(Photo: American and Mexican officials sign a US$20 billion rescue package for the Mexican economy at a ceremony at the US Treasury in Washington. Credit: Pam Price/AFP/Getty Images)
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- Tue 19 Jan 2016 08:50GMTΒι¶ΉΤΌΕΔ World Service except News Internet
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