 |
Miguel de la Madrid32nd President of Mexico (1982–1988).
Date of Birth: 12.12.1934
Country:  Mexico |
Content:
- Biography of Miguel de la Madrid
- Political and Academic Career
- Presidency and Economic Challenges
- Fight Against Corruption and Economic Reforms
- Earthquake and Legacy
Biography of Miguel de la Madrid
Miguel de la Madrid was the 32nd President of Mexico, serving from 1982 to 1988. Born on December 12, 1934, in Colima, Mexico, he had a remarkable career in politics and finance.
Political and Academic Career
De la Madrid studied at the National Autonomous University of Mexico, where he gained knowledge and skills that would later contribute to his success in politics. He furthered his education by obtaining a Master's degree in Management from Harvard University.
His political career began in the mid-1960s when he started working at the Bank of Mexico. In 1970-1972, De la Madrid served in Pemex, the state-owned petroleum company. He then joined the Ministry of Finance, where he worked until 1976. During this time, he held the position of Secretary of Budget and Planning in the government of Jose Lopez Portillo.
Presidency and Economic Challenges
In the presidential elections held on July 4, 1982, De la Madrid emerged as the clear winner, securing 16,145,000 votes (71.63%) compared to his closest competitor's 16.41%. He assumed office as the President of Mexico in December 1982, representing the Institutional Revolutionary Party (PRI).
During his presidency, Mexico faced significant economic challenges, particularly due to the oil crisis that had severely impacted the country's economy in the summer of 1982. This led to a surge in inflation, reaching an unprecedented 159% in 1987. Unemployment rates also soared, reaching 25% in the mid-1980s. Despite these difficulties, De la Madrid implemented stringent financial policies in accordance with the recommendations of the International Monetary Fund (IMF).
Fight Against Corruption and Economic Reforms
De la Madrid was known for his commitment to combating corruption. He initiated legal proceedings against two of the most corrupt officials from the previous government. However, he refrained from targeting his predecessor, Lopez Portillo, or the bureaucratic apparatus of the PRI and its affiliated union leaders.
Although faced with economic challenges, De la Madrid actively sought foreign investments and privatized state-owned assets in an effort to revitalize Mexico's economy. In 1986, Mexico joined the General Agreement on Tariffs and Trade (GATT), a significant achievement for the country's international trade.
Earthquake and Legacy
In 1985, a devastating earthquake struck Mexico, causing widespread destruction and loss of life. De la Madrid's handling of the crisis received criticism, leading to a decline in his personal and PRI's political ratings.
Miguel de la Madrid passed away on April 1, 2012, in Mexico City, due to emphysema. Despite the challenges faced during his presidency, De la Madrid's legacy includes his efforts to fight corruption, attract foreign investment, and implement economic reforms in Mexico.
