José Guillermo Abel López Portillo y Pacheco (; 16 June 1920 – 17 February 2004) was a Mexican writer,éLó lawyer and politician affiliated with the Institutional Revolutionary Party (PRI) who served as the 58th president of Mexico from 1976 to 1982. López Portillo was the only official candidate in the 1976 presidential election, being the only president in recent Mexican history to win an election unopposed.
Politically, the López Portillo administration began a process of partial political openness by passing an electoral reform in 1977 [es] which loosened the requisites for the registration of political parties (thus providing dissidents from the left, many of whom had hitherto been engaged in armed conflict against the government, with a path to legally participate in national politics) and allowed for greater representation of opposition parties in the Chamber of Deputies, as well as granting amnesty to many of the guerrilla fighters from the Dirty War. On the economic front, López Portillo was the last of the so-called economic nationalist Mexican presidents. His tenure was marked by heavy investments in the national oil industry after the discovery of new oil reserves, which propelled initial economic growth, but later gave way to a severe debt crisis after the international oil prices fell in the summer of 1981, leading Mexico to declare a sovereign default in 1982. As a result of the crisis, the last months of his administration were plagued by widespread capital flight, leading López Portillo to nationalize the banks three months before leaving office, and by the end of his term Mexico had the highest external debt in the world. His presidency was also marked by widespread government corruption and nepotism.
Shortly after leaving office, during the presidency of his successor Miguel de la Madrid, numerous officials who had worked under the López Portillo administration were prosecuted for corruption, the most notorious cases being Arturo Durazo and Jorge Díaz Serrano. Although López Portillo himself was suspected of having been involved in corruption as well, he was never charged with any crimes. It was revealed after his death that he had been a CIA collaborator before he became president of Mexico.
López Portillo died from the complication of pneumonia at his home in Mexico City on 17 February 2004 at the age of 83, and he was buried at the Pantheon Federal District military.
Early life and education
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. Another ancestor was a Royal Judge in the Audiencia de Nueva Galicia in the eighteenth century. 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.
Early 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.
An ideological centrist, Lopez Portillo frequently asserted that he was “neither of the right or the left.”
Presidency
Domestic policy
López Portillo was elected unopposed in 1976, though in any event the PRI was so entrenched that he was effectively assured of victory when Echeverría chose him as the PRI's candidate. To date, he is the last Mexican president to run unopposed.
When he 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. 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 and gave way to a severe debt crisis and a sovereign default.