    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book II)]
    [October 5, 1995]
    [Page 1543]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the Financial Recovery in Mexico
    October 5, 1995

        This morning I received a call from Mexican President Ernesto
                Zedillo. I am pleased to announce that he informed me that
                Mexico is ready to repay $700 million of the U.S. financial
                assistance we provided earlier this year to address Mexico's
                financial crisis. This news is another important step on the
                road to financial recovery for Mexico, and I am very pleased
                that this repayment comes sooner than expected. I
                congratulated President Zedillo on his resolve to implement
                the tough measures needed to restore economic stability and
                growth.

        Last winter, an imminent financial collapse of Mexico threatened the
    economic and national security of the United States. At my direction,
    the United States took action to form an international coalition to
    provide Mexico sufficient funds to refinance its debts. It is critically
    important that Mexico remain a stable neighbor, continuing to grow as a
    market for our exports and to cooperate with us on a broad range of
    issues of mutual concern.
        Today's decision sends a positive signal to the financial markets
    that the tough financial measures Mexico has undertaken are succeeding
    and the American taxpayer is being repaid ahead of schedule.
        I look forward to meeting with President Zedillo next week when he
    visits Washington on his first state visit and discussing the broad
    range of issues affecting our two countries.