International Business
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MEXICAN STOCKS
* Mexico’s peso weakened against the dollar Wednesday amid congressional squabbling over a proposed $40-billion U.S. aid package. The currency closed at 5.41 pesos to the dollar, down 2.8% from 5.25 on Tuesday. The peso has fallen 36% since Dec. 20 and 6.1% so far this year.
* The U.S. aid package is expected to help the Mexican government persuade investors to roll over their short-term dollar-indexed bonds, or tesobonos. About $17 billion worth of tesobonos will mature in the next six months. But if investors perceive that the aid package is in danger in Congress, they could again stop rolling over their tesobono holdings.
The Bolsa Index
Wednesday closes: 2,156.13
Sources: Dow Jones; Bloomberg Business News
SPOTLIGHT: BRITAIN
Following rapid economic growth in the 1980s, the island country’s rate of inflation began to accelerate, resulting in a policy of more stringent monetary control in a bid to slow inflation. In mid-1990, the economy entered a recession. The inflation fight was successful, and in 1993 recovery began.
Note: Years 1994-96 are projected.
Sources: Bank of America; World Information Services
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