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Brazil 2
Beginning of paper
On January 12, 1999, over a billion dollars fled Brazil. Three days later, the Central Bank attempted to bring about a limited devaluation of the Brazilian currency, the real, but it failed to prevent a free fall. Over the next two days, another $3 billion was pulled out, and by the end of the month, the real had lost over 40 percent of .... Middle of paper
.... sector; and astronomic and unsustainable interest rates.
For Brazil's partners in Mercosurthe common market that joins Argentina, Paraguay, Uruguay, and Brazil-its plunge into recession and the quantum leap in the price of their own exports in the Brazilian market (especially for Argentina, which has locked its own currency into a one-to-one relationship with the U.S. dollar by means of a currency board) has put enormous strains on the fledg ....
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Number of words: 5127
Number of pages: 19 (approx. 250 words per double-spaced page)
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