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Brazil

Yearbook 1999

Brazil. Two weeks after President Fernando Henrique Cardoso's installation for a second term in office. after the victory in the presidential election October 4, the currency was devalued in two rounds. In total, this meant a devaluation of 9%. The currency had been overvalued for a long time, but the triggering factor was a "rebellion" against the central government initiated by the State of Minas Gerais, former President Itamar Franco, on January 6 by suspending payments on the state's debt to the Union. The measure caused the São Paulo Stock Exchange to fall by 5%, causing a capital outflow of $ 5 billion during the first half of the month, but after the devaluation, the stock market stabilized and the capital outflow reversed. On the other hand, foreign debt automatically went up 18% to $ 272 billion, and after a decision in the Supreme Court in September - not to allow the government to levy social security contributions from retired civil servants - the government was forced to both cut government spending and raise taxes to cover the $ 1.2 billion fall in next year's budget that The HD decision means. A week later, therefore, President Cardoso launched an investment program, Avança Brasil, to stimulate economic growth. It is expected to generate a growth rate of 4–5% over the next few years and was partly a response to the strikes, the protest marches and the criticism from its own government coalition that then went on for several weeks. According to Countryaah official website, Movimento dos Sem-Terra, MST, the landless organization and the most radical national organization CUT organized protest marches (Marcha popular pelo Brasil) that gathered 100,000 people in the capital, Brasilia. On Independence Day, September 7, large anti-government demonstrations were held, organized by the Church, radicalized in response to the social consequences of the policies pursued.

1999 Brazil

The three police officers who led the Eldorado campaign in Pará in 1996, in which 19 protesting landless peasants were killed, were acquitted in August, raising major questions about the integrity of the justice system. The social situation in Brazil is still worrying with growing violence and crime. One third of the population lives in poverty, and in Rio a policeman is killed every five days.

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