December 2004
Fox and stability
Mexico
| |
Fox: his pro-business party has
brought unprecedented economic
stability to Mexico |
Mexico's president Vicente Fox knows the value of stability. Since 2000, his pro-business party, which ended 71 years of one-party rule by the National Revolutionary Party (PRI), has brought unprecedented economic stability to Mexico, Latin America's second-largest economy and one of the region's few investment-grade credits.
But that stability has not brought the red-hot economic growth many expected and more than midway through Fox's term, analysts, opposition politicians and investors wonder if Mexico is on the path to becoming a fully fledged investment-grade credit, leaving behind its emerging market status.
Essential reforms
All of Fox's reforms – energy, labour market, judicial and telecommunication – have been repeatedly blocked by a hostile congress. Analysts say there is little chance of any significant restructuring being passed before a new president is elected in 2006.
But such urgent reforms are seen...
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