Word: brazil
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Dates: during 1960-1969
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...mines have become an annual rite, and taxes run as high as 81% of profits, Anaconda and Kennecott have scrapped expansion programs totaling $325 million. In Argentina, where the gross national product actually dropped 10% last year, some 35 U.S. companies have recently canceled investment plans. New investment in Brazil has been discouraged by a law that prohibits foreign companies from withdrawing any profits above 10% of invested capital and by expropriation of an International Telephone & Telegraph facility in Rio Grande...
...Must Help." Goulart's leftist labor allies still attack foreign businessmen, and Brazil's government still pursues its let's-be-nice-to-Communism foreign policy. Only a month ago. President Kennedy sent his brother Bobby to Brasilia to tell Goulart in no uncertain terms that the U.S. could not forever continue to support a nation seemingly unable to help itself out of political and economic chaos. The message seems to have gone home. In economics, at least, Goulart talks like a man trying to control Brazil's reckless course...
Goulart's three-year economic program was drafted by Celso Furtado. 42, the economist responsible for creating an admirable development plan for the blighted, Communist-target states of the northeastern Atlantic bulge. Furtado projects a 7% annual rise in Brazil's gross national product. If all goes well, manufacturing is to grow by 11.2% annually, transport facilities by 8.8%, agricultural production by 5.7%. The program will require a $4 billion investment between now and 1965, of which private industry is expected to put up two-thirds, the government one-third...
Under Furtado's plan, Brazil intends to help itself by slashing internal budget deficits; taxes will be increased, government expenditures will be reduced, subsidies on consumer goods will be eliminated. But Brazil will still need massive help from abroad, and for that, of course, it looks...
...must help us, in its own interests," Goulart says. "Brazil isn't Cuba, but if it ever became another Cuba, it would be a more dangerous one." The point is well understood in Washington. Heartened by Goulart's new signs of responding seriously to his country's problems, the U.S. announced an emergency $30 million credit to tide Brazil over the first three months...