ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Mexican Crisis and Response

THE developing country with the largest outstanding external debt is now Mexico. Last month it was in danger of defaulting on its payments. Something like $ 16 billion were duo to be repaid by Mexico on an outstanding debt of dose to $ 90 billion. With oil prices having been on 'the decline for almost a year and Mexico's policy of selling only as much oil as it needs to sell and conserving the rest for the future, it is a matter of surprise that the crisis took so long to surface.

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