What a difference a year makes. This time last year, Brazil was perched perilously close to the abyss. The currency crisis last January had threatened to bring back inflation and undermine all the achievements of the previous five years. Yet the worst was avoided. The banking system did not buckle and the inflationary mentality did not return. The crisis was over within months and the economy even grew a little last year....more
What a difference a year makes. This time last year, Brazil was perched perilously close to the abyss. The currency crisis last January had threatened to bring back inflation and undermine all the achievements of the previous five years. Yet the worst was avoided. The banking system did not buckle and the inflationary mentality did not return. The crisis was over within months and the economy even grew a little last year....
