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Money Leaves Mexico: Mexicans have stashed up...

Money Leaves Mexico: Mexicans have stashed up to $25 billion abroad--an amount equal to nearly one-quarter of the nation’s foreign debt--to safeguard the funds from the ongoing economic crisis there. Testifying Monday before the Chamber of Deputies, Treasury Undersecretary Miguel Angel Gurria said the money will not return to Mexico until the country negotiates easier payments on its foreign debt, now estimated at $107.4 billion, and confidence in the economy is restored. Mexico has been undergoing a severe recession and high inflation since 1982, when world prices of crude oil, its principal export, started dropping.


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