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In consequence to the Reform War, the federal government was bankrupt and could not pay its foreign debts to Spain, England, and France. On July 17, 1861, President Juarez decreed a moratorium on payment to foreign debtors for a period of two years. Spain, England, and France did not accept the moratorium by Mexico; they united at the Convention of the Triple Alliance on October 31, 1861 in which they agreed to take possession of several custom stations within Mexico as payment. A delegation of the Triple Alliance arrived in Veracruz in December 1861. President Juarez immediately sent his Foreign Affairs Minister, Manuel Doblado, who is able to reduce the debts through the Pacto de Soledad (Soledad Pact). General Juan Prim of Spain persuaded the English delegation to accept the terms of the Pacto de Soledad, but the French delegation refused.

Who was the President of Mexico at the time?
President Juarez