Mexico A Swelling Tide of Troubles

A Swelling Tide of Troubles As problems multiply, the government looks ahead to elections

For hard-luck Mexicans, 1987 is already a year that many would like to forget. Last week the peso crashed through the once unthinkable barrier of 1,000 to the dollar, a sharp signal of plummeting confidence in the country at home and abroad. Foreign banks have balked at extending new loans to keep the economy afloat. To make matters worse, with national elections 18 months away, the scramble to succeed President Miguel de la Madrid threatens to paralyze his government until a new President is chosen.

So far, Mexico's resilient population of 82 million has accepted the hardships heaped upon it. Recently,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!