REALITY BITES
Tema(s): En: Financial Times 16-17 ene. 1999, p. 6Resumen: President Fernando Henrique Cardoso of Brazil allowed his country's currency to float yesterday after giving up on a controlled devaluation. The Real has lost 20 per cent of its value in a week, and Brazil no longer has the anchor that delivered growth with low inflation for the past 4 1/2 years. It is hard to exaggerate the political and economic risks it now faces. Only draconian budget cuts and high interest rates are likely to stabilise the currency. A recession is inevitable, deepening grotesque social inequalities. Worse still, inflation could return to destroy Mr Cardoso's credibility at the start of his second term as president. Latin America's growth this year is also jeopardised. Contagion effects in Asia cannot be ruled out.| Tipo de ítem | Biblioteca actual | Signatura | Info Vol | Estado | Fecha de vencimiento | Código de barras | |
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Analítica de Seriada
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BIBLIOTECA ECONÓMICA BCE - QUITO | RESUM-019939 (Navegar estantería(Abre debajo)) | Financial Times. 16-17 ene. 1999, p. 6 | Disponible |
President Fernando Henrique Cardoso of Brazil allowed his country's currency to float yesterday after giving up on a controlled devaluation. The Real has lost 20 per cent of its value in a week, and Brazil no longer has the anchor that delivered growth with low inflation for the past 4 1/2 years. It is hard to exaggerate the political and economic risks it now faces. Only draconian budget cuts and high interest rates are likely to stabilise the currency. A recession is inevitable, deepening grotesque social inequalities. Worse still, inflation could return to destroy Mr Cardoso's credibility at the start of his second term as president. Latin America's growth this year is also jeopardised. Contagion effects in Asia cannot be ruled out.
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