
Mexican president who started neoliberal reforms.
President Miguel de la Madrid initiated structural adjustment policies, including trade liberalization, privatization of state enterprises, and fiscal austerity. These reforms, aligned with IMF conditions, aimed to reduce inflation and debt but led to social hardship and labor unrest.
A magnitude 8.0 earthquake struck Mexico City on September 19, 1985, killing thousands and destroying buildings. De la Madrid's government was criticized for a slow and inadequate response, leading to public anger and the rise of civil society organizations.
De la Madrid secured Mexico's entry into GATT, committing to reduce trade barriers and integrate into the global economy. This was a key step in abandoning protectionism and paved the way for NAFTA.