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Economy Mexico

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NEWS
May 12, 2001 | JAMES F. SMITH, TIMES STAFF WRITER
The Mexican government Friday slashed its projection for economic growth this year because of the impact of the U.S. slowdown, the latest in a flurry of setbacks for the 5-month-old presidency of Vicente Fox. The growth estimate was cut from 4.5% to between 2.5% to 3%. And to make up for falling tax and oil export revenues, the government cut its current annual budget by $350 million, canceling highway, water and electricity projects and other programs.
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BUSINESS
November 17, 2005 | Marla Dickerson, Times Staff Writer
Mexico's economy grew at its fastest pace of the year in the third quarter, powered by services and a strengthened farm sector. The gross domestic product for the three months that ended Sept. 30 was up 3.3% from the same period last year, according to figures released Wednesday by the Treasury Ministry. It was the best quarterly performance since the final three months of 2004, and a strong acceleration from the second quarter of this year, when the nation's economy posted growth of 2.
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BUSINESS
June 20, 1985 | Associated Press
Mexico's energy secretary, Franciso Labastida Ochoa, warned Wednesday that a petroleum "price crisis" could threaten the international financial system by making it difficult for troubled oil producers to meet foreign debt payments. The comments came just two days after Mexico lowered the price of its lower-quality heavy crude oil by $1.50 a barrel to $24 and just two weeks before OPEC ministers will meet to consider deteriorating prices in world oil markets.
CALIFORNIA | LOCAL
October 12, 2004 | Scott Martelle, Times Staff Writer
Republican U.S. Senate candidate Bill Jones proposed federal incentives Monday to create jobs in Mexico and help reduce the economic motive propelling illegal immigration. Jones, revisiting a theme of his campaign, argued that a porous border with Mexico threatens national security and called for a sharp increase in the number of border patrol agents, completion of a stalled border fence project north of Tijuana and creation of a guest-worker program for U.S. industries facing labor shortages.
BUSINESS
November 17, 2005 | Marla Dickerson, Times Staff Writer
Mexico's economy grew at its fastest pace of the year in the third quarter, powered by services and a strengthened farm sector. The gross domestic product for the three months that ended Sept. 30 was up 3.3% from the same period last year, according to figures released Wednesday by the Treasury Ministry. It was the best quarterly performance since the final three months of 2004, and a strong acceleration from the second quarter of this year, when the nation's economy posted growth of 2.
BUSINESS
July 12, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American currencies and bonds dropped Wednesday as contagion from Argentina's deepening financial crisis spread. Argentina's stocks were whipsawed, with the Merval exchange average plummeting 7.1% before ending the day down 2.2%. Shaken by a treasury auction Tuesday in which Argentina was forced to sell short-term notes at exorbitant rates to refinance its debt, investors bailed on bonds across the hemisphere.
BUSINESS
November 30, 1991 | JUANITA DARLING, TIMES STAFF WRITER
When the U.S. economy sneezes, according to common wisdom, Mexico catches pneumonia. With two-thirds of its exports sold in the United States--and one of every eight manufacturing jobs in plants that market nearly all their goods north of the border--Mexico traditionally has been hit hard when the United States suffered an economic downturn. Yet during the current U.S. slump, Mexico's economy has grown. Trade between the two countries is increasing.
BUSINESS
March 5, 2001 | LEE ROMNEY, TIMES STAFF WRITER
For decades, money transfers from Mexican immigrants living in the United States have flowed to relatives south of the border typically at high cost and with little involvement from the Mexican government. But the role of the migrant is being dramatically altered as President Vicente Fox moves to capitalize on the close links between Mexicans on both sides of the border.
NEWS
July 7, 1995 | MARK FINEMAN, TIMES STAFF WRITER
Four months after the United States began lending Mexico $20 billion to rescue its failing economy, President Ernesto Zedillo's government apparently has stabilized financial markets--at least temporarily--as it has used the money to bail out investors. Mexico has now spent half of the $20 billion. This week, as it received $2.5 billion more from the U.S. Federal Reserve Bank, it was clear that Zedillo's strategy for using the money is paying off--at least in the short term.
NEWS
September 24, 1996 | PATRICK J. McDONNELL, TIMES STAFF WRITER
Illegal immigration, often pictured as an inexorable stream of border-jumpers and visa-overstayers, is actually a fluctuating phenomenon that responds sharply to economic shifts and other factors. That is the central finding of a new study by the Public Policy Institute of California, an independent, San Francisco-based research organization that focuses on population issues and other concerns.
BUSINESS
July 12, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American currencies and bonds dropped Wednesday as contagion from Argentina's deepening financial crisis spread. Argentina's stocks were whipsawed, with the Merval exchange average plummeting 7.1% before ending the day down 2.2%. Shaken by a treasury auction Tuesday in which Argentina was forced to sell short-term notes at exorbitant rates to refinance its debt, investors bailed on bonds across the hemisphere.
NEWS
May 12, 2001 | JAMES F. SMITH, TIMES STAFF WRITER
The Mexican government Friday slashed its projection for economic growth this year because of the impact of the U.S. slowdown, the latest in a flurry of setbacks for the 5-month-old presidency of Vicente Fox. The growth estimate was cut from 4.5% to between 2.5% to 3%. And to make up for falling tax and oil export revenues, the government cut its current annual budget by $350 million, canceling highway, water and electricity projects and other programs.
BUSINESS
March 5, 2001 | LEE ROMNEY, TIMES STAFF WRITER
For decades, money transfers from Mexican immigrants living in the United States have flowed to relatives south of the border typically at high cost and with little involvement from the Mexican government. But the role of the migrant is being dramatically altered as President Vicente Fox moves to capitalize on the close links between Mexicans on both sides of the border.
NEWS
September 24, 1996 | PATRICK J. McDONNELL, TIMES STAFF WRITER
Illegal immigration, often pictured as an inexorable stream of border-jumpers and visa-overstayers, is actually a fluctuating phenomenon that responds sharply to economic shifts and other factors. That is the central finding of a new study by the Public Policy Institute of California, an independent, San Francisco-based research organization that focuses on population issues and other concerns.
NEWS
July 7, 1995 | MARK FINEMAN, TIMES STAFF WRITER
Four months after the United States began lending Mexico $20 billion to rescue its failing economy, President Ernesto Zedillo's government apparently has stabilized financial markets--at least temporarily--as it has used the money to bail out investors. Mexico has now spent half of the $20 billion. This week, as it received $2.5 billion more from the U.S. Federal Reserve Bank, it was clear that Zedillo's strategy for using the money is paying off--at least in the short term.
BUSINESS
November 30, 1991 | JUANITA DARLING, TIMES STAFF WRITER
When the U.S. economy sneezes, according to common wisdom, Mexico catches pneumonia. With two-thirds of its exports sold in the United States--and one of every eight manufacturing jobs in plants that market nearly all their goods north of the border--Mexico traditionally has been hit hard when the United States suffered an economic downturn. Yet during the current U.S. slump, Mexico's economy has grown. Trade between the two countries is increasing.
CALIFORNIA | LOCAL
October 12, 2004 | Scott Martelle, Times Staff Writer
Republican U.S. Senate candidate Bill Jones proposed federal incentives Monday to create jobs in Mexico and help reduce the economic motive propelling illegal immigration. Jones, revisiting a theme of his campaign, argued that a porous border with Mexico threatens national security and called for a sharp increase in the number of border patrol agents, completion of a stalled border fence project north of Tijuana and creation of a guest-worker program for U.S. industries facing labor shortages.
WORLD
June 15, 2010 | By Tracy Wilkinson, Los Angeles Times
In a step aimed at thwarting money laundering by drug cartels, the government of Mexico announced strict limits Tuesday on the deposit and exchange of U.S. dollars in banks, noting that the nation's economy is being flooded with illicit drug profits. The money helps traffickers buy military-grade weapons used to kill tens of thousands of people and recruit small armies all over the country who battle rival gangs and government forces. Failure to intercept the money has long been singled out as a major flaw in President Felipe Calderon's military-led offensive against the cartels.
BUSINESS
June 20, 1985 | Associated Press
Mexico's energy secretary, Franciso Labastida Ochoa, warned Wednesday that a petroleum "price crisis" could threaten the international financial system by making it difficult for troubled oil producers to meet foreign debt payments. The comments came just two days after Mexico lowered the price of its lower-quality heavy crude oil by $1.50 a barrel to $24 and just two weeks before OPEC ministers will meet to consider deteriorating prices in world oil markets.
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