16/03/2022
For the next forty years, and even during the Great Depression, Mexico's economy continued to grow at an unprecedented rate. During the presidency of Lazaro Cardenas, elected for the first time for a six-year term, certain popular reforms were introduced: land was distributed to poor peasants and the railway and oil industry were nationalized. The period of rapid economic growth continued after World War II.
In the mid-1960s, the IRP-led government brutally suppressed public protests for civil rights and freedoms. During the so-called "massacre in Tlatelolco" in 1968, 250 Protestants were killed by law enforcement agencies. At the same time, the government resumed controversy in the country over re-privatization and greater openness of the Mexican economy. The period of economic growth changed to a period of uncertainty and political discontent. In the 1970s and 1980s, the country devalued its national currency, the peso, and inflation rose sharply, leading to a default on the country's foreign debt in 1982. The difficult economic situation affected the ruling Institutional Revolutionary Party, which first in 1997. lost its majority in the country's Congress and then lost power in the 2000 presidential election. For the first time in 71 years, Vicente Fox, a candidate from the opposition National Action Party (PND), has become president.