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Mexico Takes Step to Privatize Banks: Eight...

From Times Staff and Wire Reports

Mexico Takes Step to Privatize Banks: Eight years after banks were nationalized, the lower house of Mexico’s congress--the Chamber of Deputies--approved a constitutional amendment to return them to private ownership. The measure, proposed on May 2 by President Carlos Salinas de Gortari, now goes to the Senate, where its passage is virtually assured. A total of 31 state legislatures also must approve it.


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