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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Mar 12, 1995
Page
4
President Ernesto Zedillo faced rejection from business and labor leaders over his proposed austerity measures for Mexico's faltering economy. He urged realism, noting the need for difficult actions without expecting immediate approval from major sectors. The peso collapse triggered swift government moves despite skepticism.
Monterrey chapter of Coparmex reports 1,500 businesses closed since January leaving 6,000 workers unemployed. Treasury Secretary Guillermo Ortiz forecasts a 2 percent GDP contraction and price rises above 42 percent in 1995 while Labor Secretary Santiago Onate warns up to 500,000 more could lose jobs by fall.
Zurich authorities shut the Letten narcotics market with razor wire after waves of dealers and addicts used the disused rail hub for heroin sales. The sale of syringes and condoms from machines appeared in the district while detox and counseling centers expanded to home towns under new municipal rules.
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