Stories written by Mario Osava
Mario Osava has been an IPS correspondent since 1978, first from Portugal, then from Brazil starting in 1980. He has covered events and processes all throughout Brazil and has recently been engaged in covering major infrastructural projects that reflect opportunities for development and South American integration.
| Twitter |
Brazilians have begun to feel the impact of the devaluation of the real, which especially affects public employees, street vendors and formal sector workers who depend on imports, and all those who owe foreign-denominated debts.
The over 40 percent devaluation of Brazil's real has forced the local economy to shift course fast, in some areas back toward an import substitution model.
The Brazilian real suffered a new slide Thursday amidst jitters that also caused the stock markets to decline, defying expectations of better times arising from parliament's approval of the most controversial fiscal measure.
By widening the band in which the real (the local currency) traded, Brazil's Central Bank made the correct decision Wednesday, according to some analysts - or took one more step toward the abyss according to others.
Brazil's Central Bank gave in to market pressures Friday and suspended the exchange rate band adopted two days ago, allowing the local currency, the real, to float free.
Euphoria in the markets and the tendency of a free floating Brazilian real not to exceed a rate of 1.50 per dollar heightened hopes that the devaluation in Brazil would not degenerate into a Mexican, Asian or Russian-style meltdown.
Brazil's Central Bank gave in to market pressures Friday and suspended the exchange rate band adopted two days ago, allowing the local currency, the real, to float free.
Brazil's Alberto Santos Dumont, inventor of the aeroplane 92 years ago, will be the subject of a new film depicting the decisive role he played in conquering the clouds.
Brazil's National Traffic Code, brought in on January 23, 1998, made a decisive contribution to reducing the number of deaths on federal highways last year.
The southernmost region of the Americas is today united through trade and economic cooperation under the Southern Cone Common Market (MERCOSUR), but in previous decades, its countries were linked in a totally different type of integration.
The southernmost region of the Americas is today united through trade and economic cooperation under the Southern Cone Common Market (MERCOSUR), but in previous decades, its countries were linked in a totally different type of integration.
Brazil's stock exchanges plummeted again Thursday following a moratorium declared by the Minas Gerais state government, launching a new internal source of financial turbulence which rebounded throughout the continent.
Brazil's agrarian reform has been presented by its government as a success, but its future appears uncertain, partly because of a growing rural-urban drift.
Brazilian women can celebrate the new year in the knowledge they have a statistically more promising future than their male compatriots, as they are better educated and live longer.
Brazilian women can celebrate the new year in the knowledge they have a statistically more promising future than their male compatriots, as they are better educated and live longer.
Brazil's taxes and interest rates are among the world's highest and this is affecting its economic growth as well as its ability to compete on the world market, according to industrialists, legislators and union leaders.
This year saw a sharp reassertion of economic globalisation and the tyranny of finances. As well as lessons, 1998 provided consequences that will hit a number of Latin American countries even harder next year.
Up there in the top 10 on the music charts in Brazil nowadays is Catholic priest Marcelo Rossi, and other men of the cloth also are becoming pop stars as the church tries to net converts among the young.
Five Chileans, two Argentineans and a Brazilian serving time in Brazil for the kidnapping of a prominent local businessman reached the 37th day of a hunger strike Tuesday, making their fast the longest in Brazilian history.
The presidents of the Southern Cone Common Market (Mercosur) member states, and associates Bolivia and Chile, ended their meeting here Thursday with declarations and agreements that represented small advances while glossing over smouldering disputes.
Women in the countries of the Southern Cone Common Market (Mercosur) now have their own forum, which will directly influence decision-making in South America's largest trade bloc.