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Witness History: Mexico's Tequila Crisis

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Mexico's Tequila Crisis

19/01/2016 GMT

BBC World Service - Witness History, Mexico's Tequila Crisis

In January 1995 Mexico was forced to seek a multi-billion dollar bailout from the US

In January 1995 Mexico received a multi-billion dollar bailout from the US and the IMF to halt an economic melt-down caused by the sudden devaluation of its currency, the peso.

In January 1995 Mexico's economy went into melt-down following the sudden devaluation of its currency, the peso. The government was forced to seek a multi-billion dollar bailout from the US and the IMF. Witness hears from Luis de la Calle, a top Mexican official who helped negotiate the package.

(Photo: American and Mexican officials sign a US$20 billion rescue package for the Mexican economy at a ceremony at the US Treasury in Washington. Credit: Pam Price/AFP/Getty Images)

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