Heat and dust

Article Abstract:

India accepts bad government too readily and it is perceived as a result of democracy, but it has resulted from politicians that are incompetent and often corrupt. Neither the Congress party, nor the Bharatiya Janata Party (BJP) is capable of telling voters that labor markets should be freed, state industries should be privatized, and red tape should be cut. The BJP has started to suggest some economic reforms, but the collapse of the government could lead them to revert to their old ways. Meanwhile, India's government should sign the Comprehensive Test Ban Treaty.

Editorial, Political aspects, India

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The battle for confidence

Article Abstract:

The Brazilian government is seeking to restore confidence in the economy following the devaluation of the Brazilian real. There are risks that inflation and lack of control of the budget deficit could become problems, but Brazil has support from the International Monetary Fund. Unemployment is rising and critics argue that the currency should have been allowed to devalue sooner. The main three private sector banks are seen as well managed and solid, and have conservative lending policies, but some smaller banks face problems.

Brazil, Currency devaluation, Devaluation (Currency)

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Perssona grata: Sweden

Article Abstract:

Persson's Jan 10, 1995 announcement of budget cuts and tax increases did not seem satisfactory to the international financial community, which pounded the krona and long-term bond issues. Sweden's political climate remains resistant to any substantial reduction in its welfare state.

Economic aspects, Sweden, Deficit financing, Deficit spending, Persson, Goran, Krona (Sweden)

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