Word: lafer
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Dates: during 1950-1959
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...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...
Brazil is half a billion dollars in the red-mainly because she cannot produce nearly enough to pay for what she needs from abroad, and lacks the investment capital to increase production. Vargas' Finance Minister Horacio Lafer has tried to balance the books by slashing imports in half-but that has not been enough. With all existing export industries except coffee too high priced to compete in the world market, the nationalists have balked at developing likely new exports with the aid of foreign capital. Items...