INTERNATIONAL

Mexico Unveils Economic Plan: The Mexican government announced its 1993 economic plan aimed at reducing inflation and took steps to ease pressure from currency markets to devalue the peso. Under the plan, the peso will be allowed to float within a gradually widening range--meaning it will never be worth more than 3,070 to the dollar. According to experts, the markets view the peso as overvalued, and the government feared market pressure could force a devaluation that would undermine confidence in the economy and wreak havoc with attempts to control inflation. Among inflation control measures announced were pledges from labor not to press for wage increases over 10% and from business not to raise prices or cut production. The government promised to balance the federal budget and to continue deregulating the economy. The government’s goal is to reduce inflation--now running about 15%--to 7.5% by year-end 1993.