In recent years, a number of developing and transition countries have experienced financial crises, the most dramatic of which was the ________.
A)Mexican crisis of 1994-1995
B)Mexican crisis of 1988-1989
C)Argentina crisis of 1995-1996
D)Brazilian crisis of 1996-1997

Question

Quizplus · Accepted Answer

The Mexican crisis of 1994-1995 was a major financial crisis that affected Mexico and spilled over into other countries in Latin America. It was caused by a combination of factors including the devaluation of the Mexican peso, high debt levels, and a weak banking system. The crisis led to a recession in Mexico and other countries in the region, and required a large bailout from the International Monetary Fund. The other options listed did not have as significant of an impact or were not major financial crises.

In Recent Years, a Number of Developing and Transition Countries