>As Stanley Fischer never tires of saying, the primary point of the
>peso support package was to help *Mexico.*
This is a bit hard to believe. Why this concern for Mexico and not, say, Africa? Insofar as there was any IMF (meaning U.S. Treasury) concern about Mexico's domestic economy, it was to keep it together enough to slow the northward flow of migrants. I'm not even going to mention the relative role of private creditors (large for Mexico, tiny for Africa).
Doug