Word: goulart
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Last week the country was in the midst of its sixth Cabinet crisis in 18 months-and President Joao Goulart was engaged in another of those nimble political maneuvers by which he solves nothing but somehow survives. Out as Finance Minister went Carlos Alberto Alves Carvalho Pinto, 53, the able onetime governor of Sao Paulo state, who resigned in anger after six hopeless months of struggle against Brazil's wild inflation (about 85% in 1963), its fleeing capital and its immense foreign debt. In to cope with the same problems came Ney Galvao, 60, a smalltime provincial banker whose...
...stake was the World Club soccer championship-Santos of Brazil v. Milan of Italy-and all Brazil braced for the familiar frenzy. Work came to a standstill; every radio and TV set was tuned to the broadcast. In Brasilia President Joao Goulart canceled all appointments and camped by his radio; congressional committees recessed; Alliance for Progress meetings in Sao Paulo were scheduled around game time. And in Rio 150,000 passionate souls, every man jack of them willing to part with his last cruzeiro, squeezed into Maracana Stadium for the games. Games? It was more like a Latin American madness...
When the second annual meeting to review the Alliance for Progress convened in Sao Paulo last week, Brazilian President Joao Goulart sharply criticized United States efforts to aid Latin America. The Alliance is ineffective, he argued, because it is improperly managed; in other words, the United States Agency for International Development mishandles the billion dollars a year that the Alliance funnels into Latin America. He called for the establishment of an inter-American fund bank to replace the Alliance. This bank would be financed largely by the United States, but its direction would be entirely Latin. "Today, and each...
...Alliance's basic premise is one of matching funds: that is, Alliance money will supplement government and private capital for approved projects. With real per capita income falling, the cost of living doubling yearly and the world's least stable currency, Brazil has trouble matching American allocations. But Goulart knows that the rest of the hemisphere does not share Brazil's problems. His condemnation of the Alliance before the assembled representatives of the Latin republics was calculated to secure greater recognition of Brazil as a hemispheric leader...
...meeting itself showed better sense than Goulart by approving a multinational executive council, consisting of seven Latins and an American, to coordinate multilateral efforts and long-range planning. Hopefully, this council will provide a responsible vehicle for future appraisals of the Alliance...