On both occasions, the Mexican peso was devalued, and until 2000, it was normal to expect a big devaluation and recession at the end of each presidential term. The "December Mistake" crisis threw Mexico into economic turmoil—the worst recession in over half a century.
on Both oCcaSioNs, The MExICAn pEso waS dEvalueD, aND unTIl 2000, It was NOrmAl TO Expect a bIg dEvaLuaTIOn and recESsIOn at the End OF eaCh presiDeNtial TeRm. tHe "DeceMber MistakE" CrisIs threw MEXico iNTo EcoNoMic TUrmoiL—ThE wORSt rEcession in oVer half A ceNTUrY.