Word: brazil
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Dates: during 1960-1969
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...that is changing. Having kicked out Leftist Joao Goulart, Brazil's new President Humberto Castello Branco is determined to put his country's economic house in order once and for all. To do the job, he has chosen Roberto de Oliveira Campos, 47, a brilliant economist and diplomat, who was Brazil's Ambassador to Washington until last December, when he quit in disgust at Goulart. As Minister of Economic Planning, Campos knows just how big a task he faces. In 31 months of Goulart, the value of the cruzeiro plummeted 83%, and the cost of living rose...
...first step, Campos hopes to slow the spiral to 70% this year. Even that would be a major victory, considering the current rate of 30% for the first quarter. By early 1966, if all goes well, he plans to get it down to a "normal"-at least for Brazil-10% to 20% annually...
...starter, the new government has canceled Brazil's $200 million-a-year wheat and petroleum import subsidies, cut the national budget 30%, and is promoting a bill that will create a National Monetary Council for stabilizing finance and trade policy. It also intends to cut back commercial credit for businessmen, hold down those famous 100% wage boosts Goulart liked to pass out to unions, expand exports by offering credit insurance...
...days to revalue its assets to bring them into line with the inflated value of the cruzeiro. The companies will then be required to pay a capital gains tax on the new figures. They can either pay in cash or, for a sweetener, buy a stake in the new Brazil by putting the money in short-and medium-term government bonds paying 6% interest. The government also firmly intends to collect some $23 million in back taxes...
...find out who is stealing what. Some minutes after that the police stand pondering a curious coincidence. The object stolen from the museum, a religious effigy, and the weapon used to eliminate the faithful guard, a poisoned dart, were both made by pre-Columbian Indians in the jungles of Brazil. "The Maltecs were a mysterious people," somebody murmurs portentously and then goes on to add, "Who knows? A few may have survived, and now they have come to reclaim their...