Yes, the SELIC exploded and the Real was devalued overnight as soon as people realized that the party currently in power had chances to win an election.
Disaster is what we are living through now. Can you get any example of hight inflation happening at the same time as hight interest rates on Brazil since the Real Plan? Or, can you get any other example of hight inflation at the same time as a decreasing GDP? Or can you get any failed coup from FHC times?
FHC surely didn't do everything right. I have plenty of complaints. But to even compare his government to any of PT's is absurd.
Disaster is what we are living through now. Can you get any example of hight inflation happening at the same time as hight interest rates on Brazil since the Real Plan? Or, can you get any other example of hight inflation at the same time as a decreasing GDP? Or can you get any failed coup from FHC times?
FHC surely didn't do everything right. I have plenty of complaints. But to even compare his government to any of PT's is absurd.