Presidency of Carlos Salinas (dec 1, 1988 – nov 30, 1994)

Description:

Salinas continued the neoliberal economic policy started by de la Madrid, privatizing industries and opening the economy, making Mexico a strong manufacturing country. Salinas used his popularity to resolve the political crisis he was elected in. During his presidency, Mexico experienced high economic growth, but created a bubble. By 1994, the bubble was apparent and Salinas spent a large amount of money trying to mitigate the problem, but only increased the deficit under an overvalued peso. By the end of the year in 1994, Salinas was one of the most hated presidents in Mexican history.

Sources:
http://oxfordre.com/latinamericanhistory/view/10.1093/acrefore/9780199366439.001.0001/acrefore-9780199366439-e-491