Presidency of de la Madrid (1982-1988) (jan 1, 1982 – aug 7, 1988)
Description:
De la Madrid was president during one of Mexico’s most severe economic crisis. Prior to him becoming president, Mexico defaulted on foreign loans resulting in high inflation and 25% unemployment. The country was essentially struggling to adapt to the free market. However, to combat this de la Madrid instituted widely unpopular austerity measures which in the long run were crucial to Mexico’s economic stability. His presidency lay the groundwork for the North American Free Trade Agreement in 1994.Added to timeline:
Date:
jan 1, 1982
aug 7, 1988
~ 6 years and 7 months