Values in Conflict: Developing Countries as Social Laboratories
1984; Taylor & Francis; Volume: 18; Issue: 2 Linguagem: Inglês
10.1080/00213624.1984.11504264
ISSN1946-326X
Autores Tópico(s)International Development and Aid
ResumoLike a father welcoming home his prodigal son, Jacques de Larosiere, managing director of the International Monetary Fund, a recent address at the annual meeting of the Fund singled out Mexico as a model of correct policy dealing with the international debt crisis. Praising the austerity program adopted by the newly elected government of President Miguel de la Madrid Hurtado December 1982, Larosiere said that the Mexican problem had been dealt with in a very efficient way, not by the creditors and the financiers, but more importantly, by the Mexican authorities and the Mexican people.' During the same meeting, Jesus Silva Herzog, Mexico's Secretary of and Public Credit, an erstwhile radical economist, was chosen by Euromoney magazine as Finance Minister of the Year, and feted with a champagne party for bankers and financiers Washington. Silva Herzog modestly remarked that Mexico's economic performance undoubtedly pleased foreign bankers more than it did Mexican housewives, but he promised that under the belt-tightening program things would get better by next year.2 Antonio Ortiz Mena, president of the Inter-American Development Bank, also congratulated Mexico on having selected the only way to cope with its $80 billion external debt and return to a path of sustained
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