Brazil Shouldn't Say Nuts To Dornbusch
For his comments on Brazil's economy ("Brazil has run out of excuses," Economic Viewpoint, June 10), Rudi Dornbusch was demonized by the local press. But he is right. The Brazilian government is in a need of a wake-up call to start acting more pragmatically. The only thing that Brazil needs to succeed in the global economy is a stable business climate, including civilized, real interest rates. Since the government has, by law, a lot of room to maneuver without cooperation from the legislature, there is a lot it can do right now to achieve this.
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