Brazil’s Ailing Economy Gets $41.5 Billion in International Aid
At a glance:
- Series: Great Events: 1900-2001
- Categories: Diplomacy, International Relations, Foreign Affairs, Economics
- Subcategories: Banks, Banking, Finance, Depressions, Recessions
- Curriculum: American History 1951-present, Latin American History
- Geographical Location: Brazil
- Date: November 13, 1998
Article abstract: Although President Fernando Henrique Cardoso saved the Brazilian economy from hyperinflation, the nation faced economic disaster in 1998 until it was rescued by an international aid package put together by the United States.
A Troubled Transition
Notorious throughout its history for political and financial turmoil, Brazil hit rock bottom in the early 1990’s. After Brazil’s twenty-one-year-long military dictatorship ended in 1985, the Brazilian people were faced with an annual inflation rate that reached more than 1,000 percent by...
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