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jan 31, 1995 - A US rescue plan

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January 31th, 1995

The US announces a USD 50 bn rescue package for Mexico, consisting of USD 20 bn from the US, USD 18 bn from the IMF (including the USD 7.8 billion already announced on January 26th), USD 10 bn from the Bank for International Settlements, and USD 3 bn from private commercial banks (Musacchio, 2012). Due to the credit line, Mexico is able to roll over its short term dollar denominated debt, although at considerable higher yields. Without the help Mexico probably would have defaulted on its tesobonos.

Added to timeline:

Tequila Crisis

Byj bausher
14 Apr 2022
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148

Date:

jan 31, 1995
Now
~ 30 years ago
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