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How did President Cardoso stabilize Brazil's economy in the 1990s?
Wiki User
∙ 9y ago
nova net answer------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------->> He cut back on government spending and inflation.
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoPresident Cardoso stabilized Brazil's economy in the 1990s by cutting back on government spending and reducing inflation.
Wiki User
∙ 12y agoFernando Henrique is best known as the president who created the "Real Plan", that cut back the inflation and made the Brazilian currency strongest than US Dollar at the time.
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How did president Cardozo stabilize Brazil's economy?
Even before Fernando Henrique Cardoso become president he created a new currency: "The Real", and forced a parity with the dollar.... 1 dollar = 1 real This stimulated business man and the population, in few months the internal consumption was growing... But they had fear of the inflation. So in the next year, this time being president he increased the interest rate, cooling the economy. And to cut costs he privatised some SOEs
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