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Brazil

Yearbook 1998

Brazil. The incumbent President Fernando Henrique Cardoso won the presidential election in the first round on October 4 over the Labor Party Partido dos Trabalhadores (PT's) candidate Luiz Inácio "Lula" da Silva, despite budget deficits, growing unemployment, great financial turmoil and capital flight. In September, the stock exchanges in Rio de Janeiro and São Paulo had fallen by almost 16% and fears were that Brazil would be included in the global financial crisis affecting Southeast Asia and Russia. But despite this and despite Cardoso's own party, Partido da Social Democracia Brasileira (PSDB), failed in the congressional elections, as did his alliance partners in the electoral governor elections held simultaneously, his four-party alliance still holds a majority in Congress. But major problems are expected for 1999 with trade deficit and zero growth. In addition, a $ 30 billion loan from the International Monetary Fund (IMF) was approved in October. Brazil's economic problems are expected to spread to the other countries of the Mercosur Customs Union, mainly Argentina.

1998 Brazil

According to Countryaah, the landless organization MST (Movimento dos Sem-Terra), which supports land occupations in protest against failed land reforms, stepped up its activities, and in March 10,000 of them occupied the Ministry of Land Reform in Brazil. They also organized sitting strikes in front of supermarkets under the motto "No one should go hungry in Brazil". The situation for the poor rural population, especially in the northeast, was exacerbated during the year by the effects of the weather phenomenon of El Niño, which caused thousands of people to flee to the cities, where plundering of supermarkets also occurred. The drought also caused extensive, month-long forest fires. in Roraima in the north.

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