MEXICO CITY — The Mexican government is holding last-minute meetings to game-plan their response to what many here see as a possible economic catastrophe for this country: a victory by Republican nominee Donald Trump.

The narrowing poll results in the U.S. presidential race have intensified fears in the Mexican government that a Trump win might shake world confidence in this country’s economy and lead to lasting damage in the relationship with its largest trading partner.

Economists predict a short-term shock in Mexican financial markets if Trump wins Tuesday night. The value of Mexico’s currency and the domestic stock market would probably plunge, they say. Currency traders here predict the peso, running at about 19 to the dollar, could fall to between 21 and 29 pesos if Trump wins.

“We will wake up in Mexico on Wednesday morning facing tremendous volatility,” said Alfredo Coutiño, Latin America director for Moody’s Analytics. “Investors are going to be scared, and the ones who didn’t protect themselves in advance, they will run away.”

Mexico’s Central Bank governor, Agustin Carstens, told a television station this week that economic officials have been meeting to craft a “contingency plan” in case of an “adverse” result in the election. “We hope we don’t have to use it,” he said.

A spokesman for the Central Bank said that he could not elaborate on how Mexico would react but that meetings are taking place with the Finance Ministry to plan for either a Trump or a Clinton win.

Trump has angered Mexicans throughout his campaign by slinging insults about immigrants and vowing to build a giant wall across the border. But it’s his economic proposals – to renegotiate the North American Free Trade Agreement, restrict remittances that Mexicans send home to their families and block American companies from moving factories south of the border.

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