US credit calms markets in an uncertain Mexico: Party militants jeer presidential rival at Colosio wake, writes Phil Davison in Mexico City

AN emergency credit line of dollars 6bn ( pounds 4bn) from the US, and the news that Mexico would become the first Latin American member of the Organisation for Economic Co-operation and Development, helped to calm the nation yesterday in the wake of the assassination of the ruling party's presidential candidate.

Life returned to normal after a day of mourning on Thursday, but there was an air of uncertainty five months before the scheduled presidential elections.

While the assassination of 44- year-old Luis Donaldo Colosio came as a shock, most Mexicans took it in their stride. The killing plunged Mexico into its worst political crisis since the 1920s. Colosio, though amiable and considered honest by his party's standards, could hardly have been described as popular outside his party's supporters, but among militants of the Institutional Revolutionary Party (PRI) emotions were running high.

Colosio's rival for the PRI's presidential candidacy, Manuel Camacho Solis, was booed, and called 'hypocrite' and even 'assassin' when he attended a wake for Colosio on Thursday evening. Mr Camacho had expressed disappointment when his old friend, President Salinas de Gortari, chose Colosio as PRI candidate last November.

Mr Camacho was appointed government negotiator with the Zapatista guerrillas in the southern state of Chiapas after an armed uprising there in January. That task gave him a much higher profile and led many to believe Mr Camacho hoped to oust Colosio as candidate. Mr Camacho reiterated yesterday that he did not want the presidency. The assassination, in the light of his rivalry with Colosio, appeared to have reduced his chances of being named as the substitute candidate.

Colosio's body was taken in a cortege to Mexico City airport for burial in his home village of Magdalena de Kino, near the US border.

His confessed killer, Mario Aburto Martinez, 23, who shot Colosio in the head and stomach on Wednesday evening in the border city of Tijuana, was being held in a maximum security jail outside Toluca, near here. Television film footage showed Mr Martinez, his shirt ripped off, being battered by the crowd as police tried to rush him from the scene.

Justice officials who interrogated him said he had confessed. They described him as 'very sure of himself, confident'. US officials revealed that the Brazilian-made Taurus .38-calibre pistol he allegedly used to fire two bullets at Colosio had first been bought in San Francisco in 1977. Investigators were looking into reports by neighbours that Mr Martinez had recently been visited by a group of young men from the US.

Mexico's trade union confederation chief, Fidel Velazquez, yesterday voiced widespread suspicion that the New Year Zapatista rebellion and Colosio's assassination may have been linked, even though the two events took place at opposite ends of the country.

The Zapatistas timed their uprising to coincide with the day the North American Free Trade Agreement (Nafta) with the US and Canada came into effect. In Chiapas, many believed US opponents of Nafta had armed or supported the Indian peasant guerrillas.

Mexico's Senate approved constitutional amendments that will end the PRI's long grip on electoral institutions. The move was a direct result of the Zapatistas' demands for greater democracy in a country where the PRI has ruled supreme for 65 years, only in recent years allowing opposition parties to make inroads to satisfy the outside world.

The stockmarket reopened 79 points, or around 3 per cent, down yesterday after Thursday's day of mourning.

President Bill Clinton's announcement of a dollars 6bn 'swap facility' to ensure Mexico has enough dollars to avert a possible run on the peso, was seen as preventing a worse market crash. So, too, was Mr Salinas' announcement that Mexico would be the first new member of the OECD for more than 20 years - since New Zealand was admitted in 1973.

Suggested Topics
Arts and Entertainment
Sydney and Melbourne are locked in a row over giant milk crates
art
News
Netherlands' goalkeeper Tim Krul fails to make a save from Costa Rica's midfielder Celso Borges during a penalty shoot-out in the quarter-final between Netherlands and Costa Rica during the 2014 FIFA World Cup
newsGoalkeepers suffer from 'gambler’s fallacy' during shoot-outs
News
A scene from the video shows students mock rioting
newsEnd-of-year leaver's YouTube film features playground gun massacre
Travel
travel
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Voices
A family sit and enjoy a quiet train journey
voicesForcing us to overhear dull phone conversations is an offensive act
News
i100This Instagram photo does not prove Russian army is in Ukraine
News
Kenny Ireland, pictured in 2010.
peopleActor, from House of Cards and Benidorm, was 68
News
Morrissey pictured in 2013
people
Sport
sportVan Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Environment
View from the Llanberis Track to the mountain lake Llyn
Du’r Arddu
environmentA large chunk of Mount Snowdon, in north Wales, is up for sale
Life and Style
Martha Stewart wrote an opinion column for Time magazine this week titled “Why I Love My Drone”
lifeLifestyle guru Martha Stewart reveals she has flying robot... to take photos of her farm
News
i100
Life and Style
The director of Wall-E Andrew Stanton with Angus MacLane's Lego model
gadgetsDesign made in Pixar animator’s spare time could get retail release
News
peopleGuitarist, who played with Aerosmith, Lou Reed and Alice Cooper among others, was 71
Environment
Tyred out: should fair weather cyclists have a separate slow lane?
environmentFormer Labour minister demands 'pootling lanes' for women cyclists
News
people
Independent
Travel Shop
the manor
Up to 70% off luxury travel
on city breaks Find out more
santorini
Up to 70% off luxury travel
on chic beach resorts Find out more
sardina foodie
Up to 70% off luxury travel
on country retreats Find out more
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

VB.Net Developer - £40k - Surrey - WANTED ASAP

£35000 - £40000 per annum + competitive: Progressive Recruitment: .Mid Level V...

Digitakl Business Analyst, Slough

£40000 - £45000 per annum + Competitive Benefits: Progressive Recruitment: Dig...

Mechanical Estimator: Nuclear Energy - Sellafield

£40000 - £50000 per annum + Car, Medical, Fuel + More!: Progressive Recruitmen...

Dynamics NAV Techno-Functional Consultant

£50000 - £60000 per annum + benefits: Progressive Recruitment: An absolutely o...

Day In a Page

Dress the Gaza situation up all you like, but the truth hurts

Robert Fisk on Gaza conflict

Dress the situation up all you like, but the truth hurts
Save the tiger: Tiger, tiger burning less brightly as numbers plummet

Tiger, tiger burning less brightly

When William Blake wrote his famous poem there were probably more than 100,000 tigers in the wild. These days they probably number around 3,200
5 News's Andy Bell retraces his grandfather's steps on the First World War battlefields

In grandfather's footsteps

5 News's political editor Andy Bell only knows his grandfather from the compelling diary he kept during WWI. But when he returned to the killing fields where Edwin Vaughan suffered so much, his ancestor came to life
Lifestyle guru Martha Stewart reveals she has flying robot ... to take photos of her farm

Martha Stewart has flying robot

The lifestyle guru used the drone to get a bird's eye view her 153-acre farm in Bedford, New York
Former Labour minister Meg Hillier has demanded 'pootling lanes' for women cyclists

Do women cyclists need 'pootling lanes'?

Simon Usborne (who's more of a hurtler) explains why winning the space race is key to happy riding
A tale of two presidents: George W Bush downs his paintbrush to pen father’s life story

A tale of two presidents

George W Bush downs his paintbrush to pen father’s life story
Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover

The dining car makes a comeback

Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover
Gallery rage: How are institutions tackling the discomfort of overcrowding this summer?

Gallery rage

How are institutions tackling the discomfort of overcrowding this summer?
Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players

Eye on the prize

Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Women's rugby: Tamara Taylor adds fuel to the ire in quest to land World Cup

Women's rugby

Tamara Taylor adds fuel to the ire in quest to land World Cup
Save the tiger: The day America’s love of backyard tigers led to a horrific bloodbath

The day America’s love of backyard tigers led to a horrific bloodbath

With only six per cent of the US population of these amazing big cats held in zoos, the Zanesville incident in 2011 was inevitable
Samuel Beckett's biographer reveals secrets of the writer's time as a French Resistance spy

How Samuel Beckett became a French Resistance spy

As this year's Samuel Beckett festival opens in Enniskillen, James Knowlson, recalls how the Irish writer risked his life for liberty and narrowly escaped capture by the Gestapo
We will remember them: relatives still honour those who fought in the Great War

We will remember them

Relatives still honour those who fought in the Great War
Star Wars Episode VII is being shot on film - and now Kodak is launching a last-ditch bid to keep celluloid alive

Kodak's last-ditch bid to keep celluloid alive

Director J J Abrams and a few digital refuseniks shoot movies on film. Simon Usborne wonders what the fuss is about
Once stilted and melodramatic, Hollywood is giving acting in video games a makeover

Acting in video games gets a makeover

David Crookes meets two of the genre's most popular voices