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What is 1994 Mexican Peso Crisis Explained about?

The sudden devaluation of the Mexican peso in December 1994 triggered a major financial crisis. The peso lost half its value, plunging Mexico into recession with GDP falling by 9.2% and unemployment rising by 2 million. This crisis occurred despite economic reforms and membership in NAFTA and OECD prior to 1994. Political assassinations and a rebellion increased uncertainty, while short-term capital inflows and an overvalued currency left Mexico vulnerable to a currency crisis and capital flight. The US int

Author

Kirti Chauhan

Language

EN