Mexico, the 1994 Peso Crisis and its Democratization Process

Now this year the G20 summit has been held June 18-19 2012 in Los Cabos, Baja California Sur, Mexico. Mexico can call itself the 14th economy in the world (2011 IMF GDP figures). While Argentina may be facing a second Peso crisis in the near future - as discussed here - Mexico recovered quite well from its 1994 peso crisis. Meanwhile The Economist did remove Argentina's official figures from their indicators page this year, because it said these figures became unreliable. And because of the expropriation of YPF, as discussed in this blogpost, the WSJ asked itself: "Why not expel a thieving Buenos Aires from the G-20?". Mexico recovered economically quite well from its 1994 Peso crisis and is still doing well. It is worth to take a closer look to this Mexican story.