As the US economy has picked up steam in the last few years, falling oil prices and a stronger dollar have left the peso floundering. Last month, the Mexican currency hit its lowest value since 1993, even lower than when it crashed in March 2009, during the global recession. You know things are bad when street taco prices start to go up. The tumble has the federal government here drawing blood from public funds, especially the arts and culture sector.As the US economy has picked up steam in the last few years, falling oil prices and a stronger dollar have left the peso floundering. Last month, the Mexican currency hit its lowest value since 1993, even lower than when it crashed in March 2009, during the global recession. You know things are bad when street taco prices start to go up. The tumble has the federal government here drawing blood from public funds, especially the arts and culture sector.
Faced with Faltering Economy, Mexican Government Slashes Arts Funding
Hyperallergic,
14 April 2015, Mexico
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