1982: La Decisión del Presidente

6.0 2008 | 54 min

The documentary depicts the decay of one of Mexico's most prosperous macroeconomic situations (the era called "The Mexican Miracle") and the government's responsibility on this matter after increasing world interest rates, decreasing oil prices, rising inflation, a deteriorating balance of payments and a chronically overvalued national currency (Mexican peso), that spurred massive capital flight and a lack of international reserves. These events culminated in three devaluations of the peso in 1982 and the famous nationalization of Mexico's private banking system under the presidency of José López Portillo. -Edgar Cochran-