Mexican oil boom
The Mexican Oil Boom was an oil boom from 1977 to 1981 which eventually led to a disastrous crash that lasted for most of the 1980s, driving the economy to a payment default and a significant deficit correction as oil prices fell. == Pre-Boom period == Since 1954 and until 1971 the Mexican economy performed very consistently, averanging 6% GDP growth each year and 3% inflation rate, allowing the country to sustain an exchange rate of 12.50 pesos per US dollar for 22 years (1954-1976).