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Carlos Salinas de Gortari wins the presidential elections
Won with 50% of the votes. His main opponent, Cuahutémoc Cárdenas, of the Democratic Revolution Party obtained 38%. -
Cardinal Juan Jesús Posadas Ocampo is Assassined
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NAFTA approved
The Mexican Senate approved the North American Free Trade Agreement. -
408 previously state owned industries are privatized
At the beginning of Salinas' presidency there were 608 parastatal industries. -
Zapatista uprising
As a response to poor socialand economic conditions, repression, general economic instability and the NAFTA, the Zapatist Army of National Liberation uprises in the State of Chiapas. -
Luis Donaldo Colosio is assasined
Luis Donaldo Colosio, the Instituional Revolutionary Party presidential candidate for the 1994 elections is assasined. His campaign manager Ernesto Zedillo Ponce de León replaces him. -
José Francisco Ruíz Massieu is assasinated
José Francisco Ruíz Massieu, general secretary of the Institutional Revolutionary Party, is assasined. -
Ernesto Zedillo becomes President of Mexico
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Zedillo approves devaluation of peso
After being informed by The Bank of Mexico that the federal reserve was drying out, Zedillo approved a 15% devaluation of the currency. -
Peso is put on clean float
The devaluation was ineffective and unsustainable with the global economy. -
International help
The IMF and the United States Treasury Department inject 51,000 million dollars to the Mexican economy paired with an austerity plan to aid Mexico. -
Loan is payed
The loan from the IMF is completely payed by the Mexican government.