Word: cruzeiro
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...dismay, the press found out all about the under-the-table deal, reported it in screaming headlines to a scandalized nation. Capable Finance Minister Eugenio Gudin indignantly resigned, and the Minister of Transport and Public Works followed him out. Gudin's departure sent inflation-battered Brazil's cruzeiro sliding downward...
COFFEE PRICES will come down for U.S. consumers as a result of Brazil's devaluation of its coffee dollar. To boost lagging coffee exports, Brazil has cut the dollar-cruzeiro exchange rate to exporters 15%, thus chopping the minimum export rate for Brazilian coffee from...
...slow inflation, Gudin called for cruzeiro-pinching by the government, curbs on bank credit and tax reform. The two preceding Finance Ministers also drew up disinflationary programs, but inflation kept right on. What makes Gudin's prospects sounder is that President Café Filho is backing him up. Getulio Vargas failed to back up his men, Horacio Lafer and Oswaldo Aranha. While Lafer was tightening credit, the Bank of Brazil was loosening it; while Aranha was trying to curb prices, Vargas decreed a 100% increase in minimum wages...
Because the economy was still shaking from the inflationary impact of the minimum wage decree when Gudin became Finance Minister, he was unable to halt the cruzeiro's slide right away. His immediate aim is to slow down the rate of in flation from the recent 2% a month to a mild 6% a year...
Gloves for Garbagemen. Jânio's triumph brought into startling prominence in Brazil an unpredictable personality who owes allegiance to no party but has never lost an election, who sometimes talks like a two-cruzeiro demagogue but insists that "all my intellectual formation is based on Washington, Jefferson, and Lincoln." He began his political climb in 1946 by winning a seat in the São Paulo city council with the help of worshipful pupils and ex-pupils. From there he went on to the state legislature, where he sponsored a record 2,007 bills (60 passed, including...