▁economic ▁re forms ▁that ▁encourag ed ▁foreign ▁invest ment , ▁w ides p read ▁priv at ization ▁of ▁state - run ▁indust ries , ▁and ▁reduction ▁of ▁tar iffs , ▁a ▁process ▁that ▁continued ▁under ▁his ▁success ors , ▁and ▁which ▁immediately ▁caught ▁the ▁attention ▁of ▁the ▁International ▁Mon et ary ▁Fund ▁( IM F ) ▁and ▁other ▁international ▁obser vers . ▁In ▁January ▁ 1 9 8 6 , ▁Mexico ▁entered ▁the ▁General ▁Ag re ement ▁on ▁Tar iffs ▁and ▁Trade ▁( G AT T ) ▁following ▁its ▁efforts ▁at ▁reform ing ▁and ▁decent ral izing ▁its ▁economy . ▁The ▁number ▁of ▁state - owned ▁indust ries ▁went ▁down ▁from ▁approximately ▁ 1 , 1 5 5 ▁in ▁ 1 9 8 2 ▁to ▁ 4 1 2 ▁in ▁ 1 9 8 8 . ▁De ▁la ▁Madrid ▁re - priv at ized ▁companies ▁that ▁had ▁been ▁made ▁state - run ▁under ▁his ▁prede cess ors . ▁He ▁sought ▁better ▁public - private ▁sector ▁relations , ▁but ▁the ▁private ▁sector ▁began ▁backing ▁opposition ▁candidates ▁non eth eless . ▁Given ▁the ▁dire ▁economic ▁circumstances ▁he ▁inherited ▁from ▁his ▁prede cess or , ▁he ▁purs ued ▁policies ▁of ▁economic ▁a uster ity , ▁rather ▁than ▁def ic it ▁sp ending . ▁ ▁Dom estic ▁elections ▁ ▁President ▁De ▁la ▁Madrid ▁initially ▁stated ▁that ▁further ▁dem ocrat ization ▁of ▁the ▁country ▁was ▁necessary , ▁and ▁the ▁political ▁system ▁opened ▁up ▁to ▁greater ▁competition . ▁ ▁As ▁other ▁parties ▁showed ▁the ▁potential ▁for ▁their ▁elect oral