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The Unfinished Brazilian Stabilization Plan

Author

Listed:
  • Fernando de Holanda Barbosa

    (Fundação Getúlio Vargas)

Abstract

This paper identifies the financing of the state as the source of various hype-rinflation episodes in Latin America. In Brazil, the principal undertaking ofthe former government, the stabilization of the economy, is unfinished sincethe fiscal issue has not been resolved. The Real Plan interrupted the finan-cing of the public deficit through the issuance of currency. Nevertheless, it is now being financed with the public debt, producing snowballing indeb-tedness and an effective interest rate that inhibits economic growth. Thenew government has no alternative other than to conclude the work com-menced by President Fernando Henrique Cardoso, approving the fiscal,social security and financial system reforms and putting them into practiceto build a regime of monetary and fiscal policies capable of supporting long-lasting stabilization for the Brazilian economy.

Suggested Citation

  • Fernando de Holanda Barbosa, 2003. "The Unfinished Brazilian Stabilization Plan," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 1(1), pages 11-26, january-d.
    • Handle: RePEc:aft:journl:v:1:1:2003:jan:dec:p:11-26
    DOI: -
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