Brazil's slippery slope

Article Abstract:

Brazil has seen a drop in the value of its currency, the real, though there has been some recovery since Brazilian interest rates were raised to punitive levels. Brazil has to develop fiscal and monetary policies that are acceptable to the market. There is a particular need for fiscal discipline in order to prevent hyperinflation. A currency board has been proposed, but this proposal has its critics. The World Economic Forum meeting in Switzerland in Jan 1999 has considered the problems of Brazil and those of other emerging economies.

Economic aspects, Brazil, Fiscal policy, Real (Brazil)

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Down but not out

Article Abstract:

Latin America faces serious economic problems, with a 1.5% drop in gross domestic product forecast for the region for 1999. Brazil has to carry out fiscal reform which should involve cutting spending on pensions and wages. Countries should also develop better protection against volatility in capital markets. Exchange rate policy should also be examined, and there is increasing support for dollarization, which involves a version of currency boards that have been used by some countries such as Argentina.

Editorial, Latin America, Foreign exchange market

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Austerity or bust

Article Abstract:

Argentina's economic policies are examined in detail. The rationale behind the country's austerity plan, and its likely impact are also assessed, as are problems relating to the exchange rate.

Foreign exchange, Argentina

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