José López Portillo
| José López Portillo | |
|---|---|
 |
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 51st President of Mexico |
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In office December 1, 1976 – November 30, 1982 |
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| Preceded by | Luis Echeverría |
| Succeeded by | Miguel de la Madrid |
| Secretary of Finance and Public Credit | |
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In office May 29, 1973 – September 22, 1975 |
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| President | Luis Echeverría Álvarez |
| Preceded by | Hugo B. Margáin |
| Succeeded by | Mario Ramón Beteta |
| Director of the Comisión Federal de Electricidad | |
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In office 1972–1973 |
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| Preceded by | Guillermo Villarreal Caravantes |
| Succeeded by | Arsenio Farell Cubillas |
| Personal details | |
| Born |
José Guillermo Abel López Portillo y Pacheco June 16, 1920 Mexico City, Mexico |
| Died | February 17, 2004 (aged 83) Mexico City, Mexico |
| Nationality | Mexican |
| Political party | Institutional Revolutionary Party |
| Spouse(s) |
Carmen Romano (m. 1951; div. 1991) Sasha Montenegro (m. 1995) |
| Children | José Ramón Carmen Beatriz Paulina |
| Alma mater | National Autonomous University of Mexico |
| Religion | Roman Catholicism |
José Guillermo Abel López Portillo y Pacheco (Spanish pronunciation: [xoˈse ˈlopes porˈtiʝo]; June 16, 1920 – February 17, 2004) was a Mexican lawyer and, politician affiliated with Institutional Revolutionary Party (PRI) who served as the 51st President of Mexico from 1976 to 1982.
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. He studied law at the National Autonomous University of Mexico (UNAM) before beginning his political career.
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.
When López Portillo 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. According to some, 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.
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