10th anniv of Plano Real which stablilised the national currency скачать в хорошем качестве

10th anniv of Plano Real which stablilised the national currency

(10 Jul 2004) 1. Wide of people walking in a busy street of Rio de Janeiro downtown 2. One Real note 3. Close-up shot of Real money being counted 4. Wide of people inside a bank 5. Elderly people looking at the their bank statement 6. Cashier counting Reals 7. Bank cashier counting the money and delivering it to a man 8. Economist Jose Julio Senna at desk 9. SOUNDBITE: (English) Jose Julio Senna, Economist "The Real was extremely well conceived and it didn't involve any significant interference with any market mechanisms, so in that aspect it was a very low cost to society and it produced excellent results." 10. Pan of people walking in a busy shopping street of Rio downtown 11. Woman looking at trousers on sale 12. Zoom out from prices to wide of man buying washing machine 13. Housewife Jacqueline Nascimento dos Santos at market stall 14. SOUNDBITE: (Portuguese) Jacqueline Nascimento dos Santos, Housewife "Well, at the beginning (of the Real) things were a bit difficult. But, as time went by, things started to improve (in the economy). We started being able to manage our money better and now things are getting much better." 15. Amaury de Souza in office 16. SOUNDBITE: (English) Amaury de Souza, Political Scientist "Well the future of Brazil's currency depends a lot on further adjustments of the economy. The Real plan opened the way for a profound reform of the Brazilian government. But a number of things are still to be carried out." 17. Shopping street STORYLINE: This month Brazilians are marking the 10th anniversary of the "Plano Real" - the economic plan which succeeded in breaking the vicious circle of hyperinflation to which Brazil had been subjected for over a decade. It jacked up interest rates, froze government spending and strengthened the new national currency, called the Brazilian Real, by pegging its value to the US dollar. For many Brazilians, the plan worked well for the first couple of years, but after that, money and work became scarce. From 1984 to 1994, during the so called "lost decade", Brazil clocked an inflation rate estimated by the official Brazilian Census Bureau at an astounding 300 billion percent. During that period, successive administrations attempted to finance heavy deficits with paper currency soon made worthless by the relentless price spiral. The country flipped through six different currencies during that period, chopping off a load of zeros each time to avoid handling bank notes with nominal values in the billions or trillions. The Treasury's thirst for paper currency was so great that, in the early 1990s, Brazil imported some of its banks notes from printers in Germany, England and France. All this disastrous economic news ended on July, 1st, 1994, when the administration of President Itamar Franco introduced its Real Stabilisation Plan, called "Plano Real". The programme was introduced by Fernando Henrique Cardoso, the then Finance Minister, and its success made him very popular. The man who became known as the "Miracle Worker" went on to convincingly win the presidential elections in October, 1994 and again in 1998. Economist Jose Julio Senna, who was the Director of the Brazilian Central Bank in 1985 during the economy's lowest period, is still full of praise for the plan. Ordinary Brazilians felt the effect almost immediately with the end of hyperinflation and many could buy goods that they never had enough money to buy before. One woman said initially it was harder for them to manage their money, but that situation did improve. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...