Miguel de la Madrid Hurtado was a Mexican politician affiliated with the Institutional Revolutionary Party who served as the 52nd President of Mexico from 1982 to 1988. Miguel de la Madrid was born in the city of Colima, Colima and he was the son of the late Miguel de la Madrid Castro a notable lawyer and Alicia Hurtado. His grandfather was Enrique Octavio de la Madrid, the governor of Colima and he worked for the Bank of Mexico and lectured in law at UNAM before he got a position at the Secretariat of Finance in 1965. Between 1970 and 1972, he was employed by Petróleos Mexicanos, Mexicos state-owned petroleum company, in 1976, he was chosen to serve in José López Portillos cabinet as secretary of budget and planning. He was president after López Portillo and he won the elections that took place on July 4,1982, and took office the following December. Inflation increased on an average of 100% a yea and reached to a level of 159% in 1987. The underemployment rate soared to 25% during the mid-1980s, income declined, in January 1986, Mexico entered the General Agreement on Tariffs and Trade following its efforts at reforming and decentralising its economy. The number of state-owned industries went down from approximately 1,155 in 1982 to 412 in 1988, as an immediate reaction to the economic crisis, he first presented the Immediate Economic Reorganization Program and, a couple of months later, the National Development Plan. Some of the measures proposed were a reduction of public spending, fiscal reforms, a restructuring of the bureaucracy and his administrations mishandling of the infamous 1985 Mexico City earthquake damaged his popularity because of his initial refusal of international aid. It placed Mexicos delicate path to recovery in an even more precarious situation. The Senate is composed of two senators from each state and two from the Federal District of Mexico, an election of half of its members takes place every three years. The Legislative Assembly of the Federal District of Mexico was created, cuauhtémoc Cárdenas and other politicians from the Institutional Revolutionary Party announced the creation of the Democratic Current within the PRI. The Democratic Current demanded the establishment of rules for the selection of the partys presidential candidate. When they failed, Cárdenas and Porfirio Muñoz Ledo left the PRI and joined the National Democratic Front, on Election Day 1988, a computer system shut down. That event is remembered by the prase se cayó el sistema, when the system was restored, Carlos Salinas was declared the winner. The expression “se cayó el sistema” became a euphemism for electoral fraud, in 1983, the Contadora Group was launched by Colombia, Panama, Venezuela and Mexico to promote peace in Latin America and to deal with the armed conflicts in El Salvador, Nicaragua, and Guatemala. After completing his term, he became the director of the Fondo de Cultura Económica in 1990 and he implanted modernizatin programs in production and administration. It incorporated the most advanced techniques in publishing and graphic arts and maintained the openness
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From left to right: US President Ronald Reagan, First Lady Nancy, Mexican President Miguel de la Madrid and his wife Paloma Cordero in Cross Hall, White House, at a state dinner.