Which of the following countries had a major financial crisis in 1994?
A)Malaysia
B)Russia
C)Mexico
D)The United States
E)Singapore

Question

Quizplus · Accepted Answer

Mexico had a major financial crisis in 1994 known as the "Tequila Crisis." This was caused by a combination of factors including a large current account deficit, high domestic interest rates, and an overvalued currency. The crisis resulted in a devaluation of the peso, a sharp drop in economic output, and a rise in inflation.

Which of the Following Countries Had a Major Financial Crisis