!! History Commons Alert, Exciting News

Context of 'After 1982: Mexican Income Takes a Major Plunge'

This is a scalable context timeline. It contains events related to the event After 1982: Mexican Income Takes a Major Plunge. You can narrow or broaden the context of this timeline by adjusting the zoom level. The lower the scale, the more relevant the items on average will be, while the higher the scale, the less relevant the items, on average, will be.

The International Monetary Fund approves of a $3.9 billion to the Mexican government. As a condition for receiving the loan, the Mexican government is expected to engage in a series of free market reforms. Such reforms include: fiscal austerity, privatization of state-owned companies, reductions in trade barriers, industrial deregulation, and foreign investment liberalization. [New York Times, 12/24/1982, pp. D4; Global Exchange, 9/2001, pp. 3 pdf file]

Entity Tags: International Monetary Fund, Mexico

Timeline Tags: Neoliberalism and Globalization

The IMF’s recommended reforms are widely viewed to have a negative effect on the earnings of the average Mexican. For example:
bullet In the period between 1983 and 1988, per capita income falls at a rate of about 5 percent per year.
bullet In the same period, the value of workers’ real wages falls from 40 to 50 percent.
bullet The share of national income received by workers declines from 49 percent in 1981 to 29 percent in 1990.
bullet Adjusted for inflation, the Mexicans’ real wages fall by 75 percent throughout the 1980s. [Global Exchange, 9/2001, pp. 4 pdf file; Harvey, 2005, pp. 100]

Entity Tags: Mexico, International Monetary Fund

Timeline Tags: Neoliberalism and Globalization

Hernan Siles Zuazo is defeated in Bolivian elections by Paz Estenssoro, who promptly moves to curb the extremely high inflation levels, which at one point reach 35,000 percent annually. He imposes austerity measures under pressure from the International Monetary Fund (IMF) in exchange for temporary relief of Bolivia’s large foreign debt. [Library of Congress, 1991; Green Left Daily, 7/24/2002]

Entity Tags: Victor Paz Estenssoro, Hernan Siles Zuazo

Timeline Tags: US-Bolivia (1951-2000)

The International Monetary Fund is reportedly given the opportunity to review the latest draft of Iraq’s proposed oil law. The draft was sent to the US government and oil companies in July (see July 2006). [Independent, 1/7/2007]

Entity Tags: International Monetary Fund

Timeline Tags: Iraq under US Occupation

The International Monetary Fund (IMF) approves a $2.1 billion loan for Iceland, whose economy has been devastated by the global financial crisis. Iceland becomes the first Western European nation to get an IMF loan since Britain in 1976. [BBC, 2/2/2009]

Entity Tags: International Monetary Fund

Timeline Tags: Global Economic Crises

Ordering 

Time period


Email Updates

Receive weekly email updates summarizing what contributors have added to the History Commons database

 
Donate

Developing and maintaining this site is very labor intensive. If you find it useful, please give us a hand and donate what you can.
Donate Now

Volunteer

If you would like to help us with this effort, please contact us. We need help with programming (Java, JDO, mysql, and xml), design, networking, and publicity. If you want to contribute information to this site, click the register link at the top of the page, and start contributing.
Contact Us

Creative Commons License Except where otherwise noted, the textual content of each timeline is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike