Why Lower Oil Prices Don't Hurt Mexico as Much as They Used To

Reduced dependence on crude makes impact from drop smaller
From
Photographer: SUSANA GONZÁLEZ

The tumble in global oil prices has sent Mexico's currency to a record low and forced the nation to cut spending and raise interest rates. Yet for all the focus on crude, Latin America's second-largest economy is actually less dependent on oil revenue than at any time in the past decade.

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