Former President Zedillo Under Fire for Privatization of Mexico's Railways Yvonne Reyes Campos - The News
go to original February 15, 2014

Former Mexican President, Ernesto Zedillo (CNN)

MEXICO CITY – Deputies affiliated with Democratic Revolution Party (PRD) and ruling Institutional Revolutionary Party (PRI) called for charges to be filed against former President Ernesto Zedillo over his controversial privatization of Mexico’s railways system in the 1990s.

Manuel Añorve (PRI) and Roberto López Suárez (PRD) argued that Zedillo, who served as president from 1994 to 2000, served the interests of private companies over the legitimate interests of the Mexican nation by selling off the country’s railway assets for $1.4 billion, far below their value.

The year after Zedillo left office, he began to serve on the board of directors of the U.S.-based railway operator Union Pacific, which owns a 26 percent share of the now-privatized Ferrocarril Mexicano.

The controversy over the privatization was reopened on Tuesday when federal deputies said they received pressure from Zedillo and U.S. Ambassador Anthony Wayne to vote against a proposed reform designed to make Mexico’s railways — which have been stagnating over the past 20 years — more competitive.

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