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Economic Crisis, Peso Devaluation Squeeze State, Local Governments

LADB Article ID: 56141
Category/Department: Mexico
Date: 1995-04-26
By: LADB Staff

The economic crisis that followed the devaluation of the Mexican peso in December has created significant difficulties for state and municipal governments, which have been forced to reduce public services because of increasing debt problems and a drop in collection of fees. During March and April, the leadership of the opposition National Action Party (PAN) frequently hammered on the problems facing the states while simultaneously criticizing President Ernesto Zedillo's emergency economic plan, especially the increase in the national value-added tax (impuesto al valor agregado, IVA).

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