Information on debt restructuring programs announced for low-and middle-income small businesses, on the consequences to debtors unable or unwilling to pay following the 1995 devaluation crisis, and on the legal recourse available [MEX24704.E]

For information on the above-mentioned topics, please consult the attachments. Information on the legal consequences to debtors unable or unwilling to pay down their debts could not be found among the sources consulted by the DIRB.

This Response was prepared after researching publicly accessible information currently available to the DIRB within time constraints. This Response is not, and does not purport to be, conclusive as to the merit of any particular claim to refugee status or asylum. Please find below the list of sources consulted in researching this Information Request.

Attachments


Latin American Regional Reports: Mexico and NAFTA Report [London]. 7 December 1995. "The Banking Crisis: Bad Debts May Top 30% of Total Loans," p. 4.

_____. 28 September 1995. "Debt Relief: Government and Banks in Rescue Deal," p. 7.

_____. 24 August 1995. "The Banking Crisis: The Political Pressure Mounts," pp. 6-7.

_____. 15 June 1995. "The Economic Crisis: Debt and Social Stability," p. 7.

_____. 20 July 1995. "Banks: New Bailout," p. 7.

_____. 11 May 1995. "The Banking System: Over the First Hurdle," p. 6.

Latin American Special Reports [London]. December 1995. "Mexico: System Reeling Under Bad Debts," p. 2.

Latin American Weekly Reports [London]. 30 May 1996. "Mexico: New Scheme to Mop Up Bad Debts," p. 232.

_____. 28 March 1996. "Mexico: Plans for Disposal of Intervened Banks," p. 142.

_____. 11 January 1996. "Mexico: Bail-Out Bill Set to Reach US$17bn," p. 11.

_____. 7 September 1995. "Mexico: Now, Subsidised Interest Rates," p. 400.

_____. 17 August 1995. "Mexico: Banking: New Attempt to Sort Out Bad Debts,"

p. 368.

_____. 10 August 1995. "Mexico: Banking: Crisis Officially Over — But Is It?", p. 356.

The Other Side of Mexico [Mexico City]. No. 45. March-April 1996. Mary Purcell. "The Bank Bailout: Another Subsidy for the Rich," pp. 4-5.