A special report on business and finance in Brazil: Breaking the habit  

Oleh:

The Economist

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 393 no. 8657 (Nov. 2009), page 52+5.
Topik: Brazil; Oil Shocks; The Cruzado Plan; The Collor Plan; Crisis
Fulltext: Breaking the Habit.pdf (13.89KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.58 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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A brief history of Brazilian meltdowns FOR most of the past few decades Brazil has been one of the first places to go into a tailspin when things turn nasty elsewhere, as the following list demonstrates. • 1973-79: Oil shocks. The first oil shock doubled Brazil’s import bill within a year. The second set off uncontrolled inflation, which reached 110% for 1980. The next 15 years were a continuous struggle to bring that number down. They also saw a sharp increase in short-term foreign debt denominated in dollars to pay for oil, heralding a decade and a half of instability. • 1982: Default. As Mexico defaulted, Brazil, which had also borrowed a lot from foreigners, found itself mistrusted too. The government tried to engineer a trade surplus to reassure creditors, forcing importers to obtain licences and buy dollars at an inflated official rate, but failed. In 1983 it defaulted on its debt and the cruzeiro plunged against the dollar, making inflation even worse.

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