Abstract

As Brazil Goes..
Weisbrot, Mark | September 16, 2002 issue

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The author examines the political condition of Brazil, as the 2002 presidential election approaches. President Fernando Henrique Cardoso met with the presidential candidates, namely Luis Inacio Da Silva, Ciro Gomes, and José Serra, to pledge support for continuing International Monetary Fund (IMF) policies over the next three years. The IMF, which approved a $30 billion loan, can cut the flow of money if the new government deviates from its program of fiscal and monetary austerity. The business press has blamed Da Silva's rise in the polls for the financial crisis, but the author pointed out that the real reason is that the bondholders have concluded that Brazil cannot pay its debt.

See Also:

POLITICS, Practical; PRESIDENTS -- Election; INTERNATIONAL Monetary Fund; PRESIDENTIAL candidates; LULA, 1945-; CARDOSO, Fernando Henrique; BRAZIL -- Politics & government -- 1985-2002; BRAZIL
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