Page de couverture de #335 How this fake currency saved brazil's economy?

#335 How this fake currency saved brazil's economy?

#335 How this fake currency saved brazil's economy?

Écouter gratuitement

Voir les détails du balado

À propos de cet audio

 In 1994, Brazil was facing a severe economic crisis, characterized by hyperinflation, currency devaluation, and economic stagnation. To combat this crisis, the Brazilian government, led by President Itamar Franco and Finance Minister Fernando Henrique Cardoso, implemented a bold plan to introduce a new currency, the real (R$). However, to prevent a run on the currency and maintain economic stability, the government took an unconventional step: it introduced a fake currency, called the "URV" (Unidade Real de Valor), which was used as a temporary accounting unit. The introduction of the URV allowed the government to break the inflationary cycle and stabilize the economy. The fake currency was used to peg the value of the cruzeiro, the old currency, to the US dollar, which helped to reduce inflation expectations and restore confidence in the economy. After a few months, the URV was replaced by the real, which was introduced at a fixed exchange rate. This strategy, known as a "currency board," helped to establish credibility and stability for the new currency, and Brazil was able to overcome its economic crisis and achieve a period of sustained growth and stability.
Pas encore de commentaire