    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book I)]
    [January 11, 1995]
    [Pages 38-39]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the Economic Situation in Mexico
    January 11, 1995

        I have spoken with President Zedillo and conveyed our continued
    support for Mexico.
        The Mexican President has outlined a comprehensive economic program,
    which has won the support of the International Monetary Fund.

    [[Page 39]]

        We have a strong interest in prosperity and stability in Mexico. It
    is in America's economic and strategic interest that Mexico succeeds.
        We are in close touch with the Mexican authorities. I have
    instructed the Treasury, working closely with the Federal Reserve, to
    continue to take appropriate steps to help Mexico get through these
    short-term financial pressures and build on the strong foundation for
    economic growth created in recent years.
        If appropriate, I am prepared to authorize the extension of the
    maturity of our existing credit facility and to increase those
    commitments to assist Mexico in meeting its short-term financial
    obligations.
        I am calling on the international financial institutions to work
    quickly to put in place a substantial lending program to support
    Mexico's economic program.