Resources
Mexico
As Mexico faces presidential elections next year, the country has shown itself to have moved towards political and economic stability. However, many much-needed reforms will now pass to the next incumbent. - -
Content
A solid platform for progress
President Fox has not delivered on all of his promises and leaves many challenges for his successor.
Economy: Stability is the highly valued legacy of Fox
A radical improvement in the country’s debt profile, the lowest inflation level for 30 years and an increasingly confident central bank are worthy achievements.
Remittances: Home towns and US banks grow better at reaping benefit of migrants’ dollars
Take a walk along Broadway in the New York district of Harlem, and you can begin to understand the recent strength of the Mexican peso against the dollar.
Markets: Heady growth is based on solid foundations
Private pension funds and the mortgage market are just two of the many hot spots to watch.
Pemex: Change is needed but far from easy
Unless reforms are imposed on the state oil monopoly the country could rely on imports by 2015.
Competition: Monopolistic practices keep prices high
Changes are planned that will force an increase in competition – but the current structures are not all bad.
Mexico key facts
- Official name: United Mexican States
- Capital: Mexico City
- Population: 105 million
- Currency: Mexican peso
- Official language: Spanish
Introduction
Mexico separates the US from the rest of Latin America. Coastal plains along its Pacific and Caribbean seaboards rise into an arid central plateau, which includes the world's second-biggest conurbation, Mexico City, built on the site of the Aztec capital, Tenochtitlán. Colonized by the Spanish for its silver mines, Mexico achieved independence in 1836. In the "Epic Revolution" of 1910–1920, in which 250,000 died, much of modern Mexico's structure was established. In 1994, Mexico signed the North American Free Trade Agreement (NAFTA).
