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Brazil Faces Deep Recession as $30 Billion Bailout Looms
Brazil endures job losses and a stagnant auto market as Asia's crisis spreads. With the real overvalued and rates above 40 percent, banks flee, consumers delay purchases, and firms like GM Caterpillar Tele Rio report steep declines. IMF funding and new credit lines offer hope but uncertainty persists.
MENTIONED IN THIS ARTICLE
Asia
Russia
Brazil
United States
America
Aees
U.S
Midwest
Argentina
Mexico
Raul Velloso
Brasilia
Congress
International Monetary Fund
IMF
Botafogo
Dupin
Antonio Minervino
Clinton
General Motors Corp
Bob Sharp
Sao Paulo
Sharp
Caterpillar Inc
Latin America
Caterpillar
Robert Petterson
Tele- Rio
Rio
David Montero