Faced with the collapse of international reserves, Brazil was forced to redefine the financing of external accounts in 1983. In December 1982 the economic authorities presented bank creditors with a global financing scheme for external accounts for 1983, subdivided in four financing "projects". It should be noted that this plan, even if it were fully compliant with its four basic points, would not be capable of reestablishing the minimum security conditions for the administration of Brazilian external accounts. The analysis of the various accounts of the balance of payments and short-term debt reveals doubtful aspects in the projections used in the negotiation with creditors. It is increasingly clear that Brazil will be forced to seek an expansion of the financing scheme and partial rescheduling of the debt presented to international private banks in 1982.
Keywords:
Brazil, Debt Renegotiation, External Debt, External Capital, Balance of Payments
Author Biography
Paulo Nogueira Batista, Departamento de Economía, Pontificia Universidad Católica de Río de Janeiro
Economista brasileño y actual investigador del Departamento de Economía de la Pontificia Universidad Católica de Río de Janeiro.
Batista, P. N. (1983). Análisis crítico de la programación gubernamental del sector externo en el Brasil. Estudios Internacionales, 16(64), p. 579–602. https://doi.org/10.5354/0719-3769.1983.15870
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