Miguel de la Madrid, 1934–2012

The president who led Mexico in hard times

Upon leaving office in 1988, after six turbulent years as president of Mexico, Miguel de la Madrid delivered a terse appraisal of his term. “I took a country with great problems,” he said, “and leave it with problems.”

De la Madrid’s presidency was a “grim time for most Mexicans,” said the Associated Press. After a “rapid but unflashy climb” through the ranks of government, De la Madrid was tapped for office in 1982, just months before Mexico defaulted on $80 billion of debt. The new president inherited a 150 percent inflation rate and a plummeting economy. But De la Madrid “pulled Mexico back from economic collapse,” raising taxes, slashing the budget, and imposing price and wage controls.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us