Posted June 14, 2017 2:37 pm by Comments

Brazil’s ceiling on non-interest government expenditures, indexed to the previous year’s inflation rate, for a period of at least ten years, resembles Argentina’s convertibility plan of 1991, which abolished all currency controls and pegged the Argentine peso to the US dollar. Similarly, Brazil is telling markets it will shrink the government (as long as the economy is growing). READ MORE

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