Background
Miguel de la Madrid was born on 12 December 1934 in Colima.
Miguel de la Madrid was born on 12 December 1934 in Colima.
Took his law degree at the National Autonomous University of Mexico and a master’s degree in public administration from Harvard, the first Mexican president to hold a graduate degree from a U.S. university.
He served as assistant finance director for Pemex, the government s oil corporation, public credit director for the Finance Ministry, and then minister of planning and the budget in the José López Portillo cabinet.
De la Madrid was inaugurated as president on December 1, 1982.
As soon as de la Madrid was inaugurated as president on December 1, 1982, he announced his austerity policies and an anticorruption campaign that exposed the wholesale graft of the Echeverría and López Portillo administrations. The opposition was predictable. The Mexican Federation of Labor, the federal bureaucrats, and the leaders of the Institutional Revolutionary Party all complained.
De la Madrid retreated to a modest degree in the second hall of 1984 and in 1985, reintroducing several subsidies to “protect the purchasing power of workers.” In 1985 the government's Basic Commodities Corporation and its National Supply System obtained larger roles in supplying low-cost goods to retail stores run by labor unions, bureaucratic unions, and farm groups.
