José López Portillo y Pacheco presidency. Mexico becomes world's fourth largest producer of oil and also one of world's leading debtor countries. Political reform, leading to increase of minority party representation in Chamber of Deputies by proportional representation system. Foreign debt and inflation soar. Government corruption rampant.
Miguel de la Madrid Hurtado presidency. Economy contracts, and standard of living falls. Foreign debt renegotiated. Government adopts economic austerity measures.
1983 · The First Church of Jesus Christ of Latter-day Saints Temple in Mexico is Dedicated
The Mexico City Mexico Temple was dedicated on December 2, 1983. It was the second temple in Latin America and the first in Mexico. It is the Largest Temple outside of the United States and is one of the five temples that has the Angel Moroni holding gold plates in his hand. Its design is based off the Aztec and Mayan temples of old that are found throughout the country.
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