Miguel de la Madrid

Dec 12, 1934 - Apr 1, 2012

Miguel de la Madrid Hurtado was a Mexican politician affiliated with the Institutional Revolutionary Party who served as the 59th President of Mexico from 1982 to 1988.
Inheriting a severe economic crisis from his predecesor José López Portillo as a result of the international drop in oil prices, De la Madrid introduced sweeping neoliberal policies to overcome the crisis, beginning an era of market-oriented presidents in Mexico. In spite of these reforms, De la Madrid's administration continued to be plagued by negative economic growth and inflation for the rest of his term, while the social effects of the reforms were particularly harsh on the lower and middle classes, with real wages falling to half of what they were in 1978 and with a sharp rise in unemployment and in the informal economy by the end of his term.
His administration was also criticized for its slow response to the 1985 Mexico City earthquake, and the handling of the controversial 1988 elections in which the PRI candidate Carlos Salinas de Gortari was declared winner, amid accusations of electoral fraud.
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