Bill Weld on Foreign Policy Former Republican Governor; former Senate candidate (MA)

1994: Supported $25B Mexico bailout

The risks were considerable, but I had confidence in Mexico's new president, Ernesto Zedillo. Besides, we simply couldn't let Mexico fall without trying to help. In addition to the economic problems it would cause both for us and for the Mexicans, we would be sending a terrible signal of selfishness and shortsightedness throughout Latin America.

I called the congressional leaders, explained the situation, and asked for their support. All of them pledged it. Several governors were also supportive, including Bill Weld of Massachusetts, who had a great interest in Mexico.

Congress would not pass the bill so we ended up providing the money to Mexico out of the Exchange Stabilization Fund.

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