Word: brazil
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Dates: during 1950-1959
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...carry out his five-year "Power, Transportation and Food" development program. Kubitschek needs to attract foreign capital to Brazil. Last week he took time to talk with prospective U.S. and German investors, got quick action on at least one project. A team of Mercedes-Benz automen arrived in Rio from Germany one morning, conferred with the President that afternoon, promptly got a truck-factory plan speeded on its way. "No matter how busy I may be," vowed Kubitschek, "any foreign investor who comes to Brazil will find my door open...
Unfinished Business. In St. Paul, Dave Williams and Willard Brazil were rearrested when, cleared of auto-theft charges, they walked out of the city police station, stole a taxicab...
...Kubitschek's prescription is largely designed to remedy Brazil's foreign-exchange shortage, which ranks with inflation as the nation's most serious economic malady. Even with imports curbed by government controls, Brazil runs up exchange deficits. The two main exports, coffee and cotton, are subject to price tremors. About half of Brazil's export earnings go for debt service, ocean freight, oil and wheat; what is left for machinery, raw materials and all other imports amounts to some $700 million a year-about $12 per Brazilian. The shortage of foreign exchange stunts economic growth...
...make much headway, Kubitschek & Co. will have to attract a lot of foreign capital to Brazil. Again and again during his preinauguration tour, Kubitschek stressed that his administration will welcome foreign investment. For the power and transportation sectors of the program, the administration will also need development loans from the U.S. Government. Urgently needed is U.S. aid in refunding Brazil's existing foreign debts so as to lessen the yearly bite. Just at inauguration time, the U.S. Export-Import Bank announced equipment loans totaling $55 million to Brazilian government-run enterprises ; obvious in the timing was Washington...
...preventive revolution" left resentments strong enough to be troublesome if the government stumbles. Vice President Goulart, powerless under the constitution to do anything more than preside over the Senate, is likely to go his own political way, looking ahead to the 1960 election. Kubitschek is still under suspicion, in Brazil and abroad, of having made some kind of election deal with the Reds; anything he does or says that relates to Communism will be examined for signs that he is paying off a debt. And Brazil's Communists are stirring; they are under orders from Moscow to wage...