International Business
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MEXICAN STOCKS
* Mexican stocks ended higher in light trading. A high of 1608 was reached but prices fell after Standard & Poor’s Rating Group announced it had revised its outlook on Mexico’s long-term foreign currency debt to “negative” from “stable.” Mexican stocks have performed erratically amid light volume since March 10, when the Bolsa rose 3.2% on the strength of a new austerity program.
* Dealers in Mexico said there also was speculation and concern that government inflation figures for the first two weeks of March could come in high, at around 3.5%, running ahead of the official projection of 42% for the entire year. Official figures are expected to be released today or Friday.
The Bolsa Index
Wednesday closes: 1,591.16
Source: Dow Jones
SPOTLIGHT: ZIMBABWE
Zimbabwe has a well-developed infrastructure and diversified manufacturing sector, primarily because old sanctions compelled it to become self-sufficient. In recent years, the agricultural sector--which contributed 20% of GDP and employed 67% of the labor force in 1991-92--has been hurt by frequent droughts.
Sources: Bank of America, World Information Services
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