BRAZIL: R--Austerity

Three weeks in office had given President João Café Filho the inside details he needed to judge Brazil's economic plight. Last week, in an emotion-choked broadcast over all the country's radio stations, he laid the somber facts on the line. Brazil is in a "dreadful crisis," and the public has to face it. Revelations, all dated from the regime of Getulio Vargas, whose suicide brought Café Filho to power:

¶The budget deficit for the fiscal year will hit $825 million, much of it chargeable to the "ridiculously low" rates of the San Francisco Valley Hydroelectric Agency and other...

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