The fiscal crisis of 1997-1999 in Brazil

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Economic Crisis Worries Brazil Rulers
By Hilda Cuzco, The Militant, 22 September 1997. Protests over the austerity policies of President Cardoso accompanied by growing nervousness by investors over the potential impact of the Asian currency crisis on the weak Brazilian economy.
The honeymoon is over
By Mario Osava, IPS, 12 November 1997. The 51 fiscal measures announced by the Brazilian government this week in the wake of the financial turmoil in Asia brought a sharp drop in support for the government's economic policy, and gave rise to uncertainty over the future.
‘Asian Contagion’ brings Brazilian austerity
Weekly News Update on the Americas, 23 November 1997. Brazilian president Cardoso announces austerity measures to shore up the real because of dramatic declines in Brazilian stock markets set off in late October by the Southeast Asian financial crisis. The real is the dollar-backed currency Cordoso designed in 1994 when he was finance minister.
Economy Down, President Up
Weekly News Update on the Americas, 20 September 1998. International investors consider Brazil the next major country at risk in the global economic crisis. With the ninth largest economy in the world Brazil has about $80 billion in short-term debt coming due in September and October. US analysts feel that Cardoso hasn't done enough to restructure the Brazilian economy on the neoliberal model.