Tuesday, September 20, 2005

Capital flight?

Between January and July of this year, Mexicans have sent over 1 billion US$ abroad for safekeeping. Moving your money abroad before an election is nothing new in Mexico, especially given the devaluation after Salinas left in late 1994. (Although, in 1994-95, a lot of the capital that left was foreign in the first place.) This year, however, Mexicans have already sent more money abroad than they did in 2000, which should give you a good sense of public sentiment and uncertainty concerning the 2006 elections.

posted by Michelle @ 9:40 AM,

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