José López Portillo
|51st President of Mexico|
December 1, 1976 –November 30, 1982
|Preceded by||Luis Echeverría|
|Succeeded by||Miguel de la Madrid|
|Secretary of Finance and Public Credit|
May 29, 1973 –September 22, 1975
|President||Luis Echeverría Álvarez|
|Preceded by||Hugo B. Margáin|
|Succeeded by||Mario Ramón Beteta|
|Director of the Comisión Federal de Electricidad|
February 18, 1972 –May 29, 1973
|Preceded by||Guillermo Villarreal Caravantes|
|Succeeded by||Arsenio Farell Cubillas|
José Guillermo Abel López Portillo y Pacheco
June 16, 1920
Mexico City, Mexico
|Died||February 17, 2004 83) (aged|
Mexico City, Mexico
|Resting place||Cemeterio Militar |
Mexico City, Mexico
|Political party||Institutional Revolutionary Party|
(m. 1951;div. 1991)
(m. 1995,his death)
|Parents|| José López Portillo y Weber |
Refugio Pacheco Villa-Gordoa
|Alma mater||National Autonomous University of Mexico|
José Guillermo Abel López Portillo y Pacheco, (Spanish pronunciation: [xoˈse ˈlopes poɾˈtiʝo] ; June 16, 1920 – February 17, 2004) was a Mexican lawyer and politician affiliated with the Institutional Revolutionary Party (PRI) who served as the 51st President of Mexico from 1976 to 1982. López Portillo was the only official candidate in the 1976 Presidential election, being the only President in recent Mexican history to win an election unopposed.
Mexico, officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Covering almost 2,000,000 square kilometers (770,000 sq mi), the nation is the fifth largest country in the Americas by total area and the 13th largest independent state in the world. With an estimated population of over 120 million people, the country is the tenth most populous state and the most populous Spanish-speaking state in the world, while being the second most populous nation in Latin America after Brazil. Mexico is a federation comprising 31 states and Mexico City, a special federal entity that is also the capital city and its most populous city. Other metropolises in the state include Guadalajara, Monterrey, Puebla, Toluca, Tijuana and León.
The Institutional Revolutionary Party is a Mexican political party founded in 1929 that held uninterrupted power in the country for 71 years from 1929 to 2000, first as the National Revolutionary Party, then as the Party of the Mexican Revolution and finally as the PRI in 1946.
The President of Mexico, officially known as the President of the United Mexican States, is the head of state and government of Mexico. Under the Constitution, the president is also the Supreme Commander of the Mexican armed forces. The current President is Andrés Manuel López Obrador, who took office on December 1, 2018.
López Portillo was the last of the so-called economic nationalist Mexican presidents.His tenure was marked by heavy investments in the national oil industry after the discovery of new oil reserves, which propitiated initial economic growth, but later gave way to a severe debt crisis after the international oil prices fell down, leading Mexico to declare a sovereign default in 1982. As a result of the crisis, the last months of his administration were plagued by widespread capital flight, leading López Portillo to nationalize the banks three months before leaving office. His presidency was also marked by widespread government corruption and nepotism.
Economic nationalism, or economic patriotism, economic populism, refers to an ideology that favors state interventionism over other market mechanisms, with policies such as domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. In many cases, economic nationalists oppose globalization or at least question the benefits of unrestricted free trade. Economic nationalism is disputed as the doctrine of mercantilism, and as such favors protectionism.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.
The Latin American debt crisis was a financial crisis that originated in the early 1980s, often known as "La Década Perdida", when Latin American countries reached a point where their foreign debt exceeded their earning power, and they were not able to repay it.
Shortly after leaving office, during the presidency of his successor Miguel de la Madrid, numerous officials who had worked under the López Portillo administration were prosecuted for corruption, the most notorious cases being Arturo Durazo and Jorge Díaz Serrano. Although López Portillo himself was suspected of having been involved in corruption as well, he was never charged with any crimes.
Miguel de la Madrid Hurtado was a Mexican politician affiliated with the Institutional Revolutionary Party (PRI) who served as the 52nd President of Mexico from 1982 to 1988. During his presidency, de la Madrid introduced sweeping neoliberal economic policies in Mexico, beginning an era of market-oriented presidents in that country. His administration was criticized for its slow response to the 1985 Mexico City earthquake, and the handling of the controversial 1988 Presidential elections in which the PRI candidate Carlos Salinas de Gortari was declared winner, amid accusations of electoral fraud.
In general, corruption is a form of dishonesty or criminal activity undertaken by a person or organization entrusted with a position of authority, often to acquire illicit benefit. Corruption may include many activities including bribery and embezzlement, though it may also involve practices that are legal in many countries. Political corruption occurs when an office-holder or other governmental employee acts in an official capacity for personal gain. Corruption is most commonplace in kleptocracies, oligarchies, narco-states and mafia states.
Arturo "El Negro" Durazo Moreno was the Chief of Police in Mexico City for six years, from 1976 to 1982. He was arrested in 1984 and incarcerated on multiple counts of corruption, extortion, tax evasion, smuggling and possession of illegal weapons and cocaine trade kickbacks.
López Portillo was born in Mexico City, to his father José López Portillo y Weber (1888–1974), an engineer, historian, researcher, and academic, and to Refugio Pacheco y Villa-Gordoa. He was the grandson of José López Portillo y Rojas, a lawyer, politician, and man of letters. He was the great-great-great grandson of José María Narváez (1768–1840), a Spanish explorer who was the first to enter Strait of Georgia, in present-day British Columbia, and the first to view the site now occupied by Vancouver.[ citation needed ] He studied law at the National Autonomous University of Mexico (UNAM) before beginning his political career.
Mexico City, or the City of Mexico, is the capital of Mexico and the most populous city in North America. It is one of the most important cultural and financial centres in the Americas. It is located in the Valley of Mexico, a large valley in the high plateaus in the center of Mexico, at an altitude of 2,240 meters (7,350 ft). The city has 16 boroughs.
José López Portillo y Weber was a Mexican engineer, historian, investigator and academic. He specialized in the history of Nueva Galicia and Jalisco. He was the son of politician José López Portillo y Rojas and father of president José López Portillo.
José López Portillo y Rojas, born in Guadalajara, Jalisco, was a Mexican lawyer, politician and man of letters. He served as Governor of Jalisco in 1911 and as Secretary of Foreign Affairs in 1914 for coup leader and brief Mexican President Victoriano Huerta, during the United States occupation of Veracruz. He served as Director of the Mexican Academy of Language from 1916 to 1923.
After graduating, he began his political career with the Institutional Revolutionary Party (PRI) in 1959. He held several positions in the administrations of his two predecessors before being appointed to serve as finance minister under Luis Echeverría, a close friend from childhood, between 1973 and 1975.
Luis Echeverría Álvarez is a Mexican lawyer, academic and politician affiliated with the Institutional Revolutionary Party (PRI), who served as the 50th President of Mexico from 1970 to 1976. Previously, he was Secretary of the Interior (1963–1969). At 97, he is the oldest living former Mexican president.
López Portillo was elected unopposed in 1976, though in any event the PRI was so entrenched that he was effectively assured of victory when Echeverría chose him as the PRI's candidate. To date, he is the last Mexican president to run unopposed.
General elections were held in Mexico on 4 July 1976. José López Portillo was the only candidate in the presidential election, and was elected unopposed. In the Chamber of Deputies election, the Institutional Revolutionary Party won 195 of the 237 seats, as well as winning all 64 seats in the Senate election. Voter turnout was 64.6% in the Senate election and 62.0% in the Chamber election.
When he entered office, Mexico was in the midst of an economic crisis. He undertook an ambitious program to promote Mexico's economic development with revenues stemming from the discovery of new petroleum reserves in the states of Veracruz and Tabasco by Petróleos Mexicanos (Pemex), the country's publicly owned oil company. In 1980, Mexico joined Venezuela in the Pact of San José, a foreign aid project to sell oil at preferential rates to countries in Central America and the Caribbean. The economic confidence that he fostered led to a short-term boost in economic growth, but by the time he left office, the economy had deteriorated and gave way to a severe debt crisis and a sovereign default.
One of his last acts as president, announced during his annual State of the Nation address on September 1, 1982, was to order the nationalization of the country's banking system.
During his presidential term, his critics accused him of corruption and nepotism.
An electoral reform conducted during his presidential term increased the number of members of the Chamber of Deputies to 400: 300 being elected single-seat constituencies by plurality vote (uninominals) and 100 being elected according to proportional representation (plurinominals).The reform furthermore opened the electoral process for small opposition parties.
In 1981, the Cancun Summit, a North-South dialogue, took place.The summit was attended by 22 heads of state and government from industrialized countries (North) and developing nations (South). During López Portillo’s presidential term, Mexico supported the Sandinista National Liberation Front in Nicaragua. In 1977, after the death of dictator Francisco Franco, Mexico resumed diplomatic relations with Spain. Also, Pope John Paul II visited Mexico for the first time.
In the year leading to the end of his term as president on December 1, 1982, López Portillo personally chose two candidates as possibilities to replace himself, following the succession ritual established by his party. One, Javier García Paniagua, would have been appointed if a man of greater political skill were needed. The other, ultimately his successor, was Miguel de la Madrid, who was chosen for his financial and administrative skills, which were deemed much more necessary after the devaluation of the peso in February 1982 and the subsequent economic crisis.
On September 1, 1982, at his final annual Address to the Congress ("Informe de Gobierno"), López Portillo gave a famous speech where he condemned businessmen and bankers responsible for the capital flight, claimed that the crisis was not his fault ("I'm responsible for the helm, but the storm is not my fault"), announced the nationalization of the banks ("They have looted us, but Mexico is not finished, they won't loot us again!"), and asked for forgiveness over his mistakes as President and the economic crisis. He famously broke in tears during his speech after asking for the forgiveness of Mexico's poor.This passionate speech, however, did little to repair his image, and he remains one of the most unpopular Mexican presidents in recent history.
López Portillo was the last economic nationalist president to emerge from the ranks of the Institutional Revolutionary Party. Subsequent presidents have all been for free trade (librecambismo).
López Portillo's first wife was Carmen Romano. However, López Portillo after his presidency divorced Carmen and married in 1995 his longtime partner, the Yugoslavian-born actress Sasha Montenegro.They had two children (Nabila and Alejandro) but later separated.
He was the brother of late Mexican novelist Margarita López Portillo, who died on May 8, 2006, of natural causes.
He died in Mexico City when he was 83 years old. He was the victim of a cardiac complication generated by a pneumonia.He was buried at the Pantheon Federal District military.
Carlos Salinas de Gortari is a Mexican economist and politician affiliated with the Institutional Revolutionary Party (PRI) who served as President of Mexico from 1988 to 1994. He is widely regarded as the most influential and controversial politician in Mexico over the last 30 years. Earlier in his career he worked in the Budget Secretariat eventually becoming Secretary. He was the PRI presidential candidate in 1988, and was declared elected on 6 July 1988 after accusations of electoral fraud.
Nationalization, or nationalisation, is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or assets owned by lower levels of government, such as municipalities, being transferred to the state. The opposites of nationalization are privatization and demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries that are usually subject to nationalization include transport, communications, energy, banking, and natural resources.
Porfirio Alejandro Muñoz Ledo y Lazo de la Vega is a Mexican politician. He is one of the founders of the Party of the Democratic Revolution (PRD).
Carlos Tello Macías is a Mexican socialist-oriented economist, academic and diplomat. He is a former ambassador to Cuba, Portugal and Russia and a former Secretary of Budget and Planning in the cabinet of President José López Portillo. According to a document distributed in the Senate by his political rivals, he was responsible for the high inflation rate and the significant increase of the external debt in the López Portillo administration.
"La Década Perdida" is a designation to the financial period of crisis in Latin America during the 1980s. Sometimes the term is used in exclusive reference to Mexico & Guatemala.
The Popular Socialist Party is a communist party in Mexico. It was founded in 1948 as the Popular Party by Vicente Lombardo Toledano.
Fobaproa is a contingencies fund created in 1990 by the Mexican government and the then dominant political party PRI to attempt to resolve liquidity problems of the banking system in that country. Fobaproa was applied in 1995 during the economic crisis to protect all Mexican banks from going bankrupt, and thus destroying the Mexican Economy. However, a number of corruption cases involved in the action have been discovered and since then, it has become an object of criticism by members of the opposition. It was replaced, in 1998, by Instituto para la Protección al Ahorro Bancario, current Mexico's deposit insurance agency.
Fernando Solana Morales was a Mexican diplomat, politician and businessman. He served as the Mexican Secretary of Public Education, of Commerce and of Foreign Affairs.
Carmen Romano de López Portillo was the First Lady of Mexico from 1976 to 1982. She was the spouse of Mexican president José López Portillo.
David Ibarra Muñoz is a Mexican economist who served as Secretary of Finance (1977–82) during most of José López Portillo's administration. He currently works as an independent advisor and serves in the board of directors of Grupo Carso and América Móvil.
Mario Ramón Beteta Monsalve was a Mexican economist who served as the last Secretary of Finance in the cabinet of President Luis Echeverría (1975–76), as director-general of Pemex (1982–87) and as governor of the State of México (1987–89).
Events in the year 1982 in Mexico.
The Ollin Yoliztli Prize was a prestigious but short-lived international prize that was bestowed by the President of Mexico for three consecutive years — 1980, 1981, and 1982 — to living Spanish literature poets, novelists, essayists, and playwrights.
Armando Ayala Anguiano was an independent journalist, historian, editor, entrepreneur and novelist.
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| President of Mexico |
Miguel de la Madrid
|Party political offices|
Luis Echeverría Álvarez
| PRI presidential candidate |
Miguel de la Madrid Hurtado