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However the volume of wb loans to mexico rose sharply.
Why mexico was in debt. From 1973 on mexicos foreign currency revenue soared thanks to the tripling of oil prices. It is known as public debt to all the insolubles obligations that are in charge of all the institutions and organisms that make up the public sector of mexico generated by the internal or external use of credit requested by the nation. You could buy 229443 pieces of lamborghini veneno for that amount.
After years of accumulating external debt risen world interest rates the worldwide recession and sudden devaluations of the peso caused external debt payments to rise sharply. In august 1982 mexico was not able to service its external debt obligations marking the start of the debt crisis. Mexico external debt current account deficit widens amid recovering domestic demand.
In 1863 what nation invaded and conquered mexico because of an unpaid debt. The current account registered a deficit of usd 18 billion in the third quarter which was larger than the previous quarters deficit of usd 06 billion but smaller than the usd 36 billion deficit incurred in the same quarter last year. You could wrap 100 bills would wrap around the planet 39 times.
If you spend 1000000 a day it would take you 2828 years and 9 month to spend all mexico debt2828 years and 9 month to spend all mexico debt. This increase in currency revenue should have prevented mexico from borrowing. Mexico was in debt and france wanted to take over mexico.
External debt in mexico decreased to 44129080 usd million in the first quarter of 2020 from 46384750 usd million in the fourth quarter of 2019. Meanwhile carlos slim mexicos richest man and the sixth richest person in the world has a net worth equal to 5 of mexicos entire gdp. External debt in mexico averaged 6334031 usd million from 1980 until 2020 reaching an all time high of 46384750 usd million in the fourth quarter of 2019 and a record low of 070 usd million in the first quarter of 1980.
Mexico calculates its national debt as all of the money raised by its central government through debt instruments. It quadrupled from 1973 to 1981 from usd 118 million in 1973 to 460 million in 1981.
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