#149 Economic Stabilization in Brazil
By Persio Arida
Abstract
The economic recovery of 1984 and the democratization of decision-making processes expected to take place in 1985 add new dimensions to the complex problem of designing stabilization policies for the Brazilian economy. This paper addresses some aspects of a program intended to resume growth on a sustainable basis and promote social equity objectives. It discusses debt and fiscal reforms briefly. It concentrates on monetary reform, social pacts, interest rates and exchange speculation. After identifying areas of ignorance, it concludes with a plea for new approaches free from both the illusions of reviving the past and the simplisms of orthodoxy.
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