After Uproar, Salinas's Party Limits Gifts
MEXICO'S ruling party set limits to financial contributions March 9 in an apparent attempt to quell the uproar following newspaper reports here and abroad that the party had asked wealthy Mexican businessmen to contribute millions of dollars.Skip to next paragraph
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Genaro Borrego, the president of the Institutional Revolutionary Party (PRI), issued a statement announcing new contribution limits of 1 million new pesos ($322,000) from individuals and political and social organizations.
The decision by the PRI appeared aimed at repairing the damage caused by recent reports that the party was seeking to form so-called "support blocs" made up of business executives. Those reports have not been denied by officials.
Mexican President Carlos Salinas de Gortari heartily endorsed the new limits. "The PRI's decision to revise its financing rules ... appears adequate to me," he said.
Mr. Salinas, who has won widespread respect for his economic reforms, has also promised to reduce corruption.