Banking on Mexico

Bankers who loaned Mexico $80 billion on the strength of its oil riches have been growing increasingly edgy about their borrower, and the chance of a big drop in oil prices has done nothing to soothe their nerves. For the past month the lenders have been putting the final touches on a rescheduling agreement designed to halt the financial skid that Mexico has been in since late summer, when the country nationalized its banks after devaluing the peso for the second time in less than a year. U.S. private lenders alone have some $25...

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