Brazil: The Economic Troubles Are Not Being Solved

Brazil's finance minister, Francisco Clementino de San Thiago Dantas, made his country's economic position sound encouraging. On nationwide TV to discuss the three-year plan to end Brazil's chronic crises, Dantas said that "in many points we have achieved full satisfaction." The budget deficit will be halved to $400 million in fiscal 1963; general credit, which was up 81% last year, is tightening by the month; the country's money presses are printing only a dribble of new currency.

Gold & Wages. The Dantas picture was highly optimistic. Other economic indicators still show that Brazil faces hard times. Inflation is rising, unabated;...

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