[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 
    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.