The Day Mexico’s Peso Collapsed — And the Country Went Bankrupt Overnight
Автор: Finance Historian
Загружено: 2025-12-01
Просмотров: 125
The Day Mexico’s Peso Collapsed — And the Country Went Bankrupt Overnight
In 1982, Mexico collapsed overnight. The peso crashed, inflation exploded, banks closed, and President López Portillo shocked the nation by nationalizing every private bank on live TV. Savings were frozen. Trust evaporated.
The cause? Mexico had borrowed heavily in dollars during the oil boom — then oil prices fell and U.S. interest rates soared. Debt became unpayable. Capital fled. The government panicked. Mexico defaulted, triggering the Latin American Debt Crisis that nearly toppled Western banks.
For ordinary Mexicans, it became la década perdida — the lost decade of inflation, unemployment, and shattered dreams.
The lesson: when governments deny reality, currencies die. When trust breaks, money collapses. Mexico’s story is not unique — it’s the same pattern seen in Cyprus, Argentina, Turkey, and every modern crisis. The warning signs always come… but most people see them too late.
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