Brazil: The Campos Plan

Over the past ten years, half a dozen ambitious plans for Brazil's stabilization and development have been launched, only to dissolve in graft, petty politics and shoulder-shrugging bureaucracy. Last week Roberto de Oliveira Campos, 47, Brazil's onetime Ambassador to the U.S. and now its able Minister of Economic Planning, presented Congress with yet another plan, supposedly carrying Brazil forward through 1966.

Broadly, the Campos Plan aims to: 1) expand Brazil's gross national product from last year's all-but-invisible 2% rise to 6% annually; 2) slow inflation from the current rate of 50% for the first seven months of this year to...

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