A Growing Mexico Needs Law And Order
Mexico is back. A surprising 7.2% surge in gross domestic product during the second quarter means the government will easily meet its goal of 3% growth in 1996. Credit goes to President Ernesto Zedillo Ponce de Leon's disciplined macroeconomic management. The Clinton Administration, of course, shares the credit for putting together a multibillion dollar rescue package after the December, 1994, peso collapse. The Bolsa is up 22% so far this year. Inflation is falling, and exports continue to grow. (U.S. exports to Mexico are growing, too--up 24% over the past six months.) There are still worries, however. Mexican consumers have yet to feel the recovery, and Mexico's unsteady banks are unable to channel new investment credit to businesses. But Zedillo's team has started to put the country on a sounder economic footing.
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