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In the two years since the peso crisis, Mexico surprised the markets with a miracle comeback. Led by the United Mexican States (UMS), the country’s issuers have wooed back their old customers, and won many new ones. Last year the government’s external debt team, led by Martin Werner, under-secretary of finance, kept Mexico in the headlines with good news for a change. In the most dazzling move, the UMS pioneered a Brady bond reduction and issued the region’s longest maturity with a $1.75 |
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