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Mexico · Economy & Business · Hard
What is the name of the 1994 currency crisis, triggered by a sudden devaluation of the peso after years of an artificially fixed exchange rate, that required an international bailout?
Answer: Tequila Crisis — The Tequila Crisis of 1994-1995 spread contagion across Latin America — the 'tequila effect' — and led to a USD 50 billion rescue package led by the US Treasury.
- A Peso Shock
- B Tequila Crisis ✓
- C December Default
- D NAFTA Crash
The Tequila Crisis of 1994-1995 spread contagion across Latin America — the 'tequila effect' — and led to a USD 50 billion rescue package led by the US Treasury.