The fiscal crisis of 1997-1999 in Brazil
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- Economic Crisis Worries Brazil
- By Hilda Cuzco, The Militant, 22 September
1997. Protests over the austerity policies of President
Cardoso accompanied by growing nervousness by investors over
the potential impact of the Asian currency crisis on the
weak Brazilian economy.
- The honeymoon is over
- By Mario Osava, IPS, 12 November 1997. The 51 fiscal
measures announced by the Brazilian government this week in
the wake of the financial turmoil in Asia brought a sharp
drop in support for the government's economic policy,
and gave rise to uncertainty over the future.
- ‘Asian Contagion’ brings
- Weekly News Update on the Americas, 23
November 1997. Brazilian president Cardoso announces
austerity measures to shore up the real because of dramatic
declines in Brazilian stock markets set off in late October
by the Southeast Asian financial crisis. The real is the
dollar-backed currency Cordoso designed in 1994 when he was
- Economy Down, President Up
- Weekly News Update on the Americas, 20
September 1998. International investors consider Brazil the
next major country at risk in the global economic
crisis. With the ninth largest economy in the world Brazil
has about $80 billion in short-term debt coming due in
September and October. US analysts feel that Cardoso
hasn't done enough to restructure the Brazilian economy
on the neoliberal model.