In 1990, Brazil had a higher debt ,which had to be paid and their was a Political uncertainty. IMF demanded much from Brazil and Brazil was about to accept those demands ,however, than for the Country sake Military take over matters and went against IMF program. They totally rejected to pay debts, not listened to IMF and accepted as defaulters. Due to which it caused hyper inflation was up to 81% from January to March ,however later on Brazil started to recover.
In 1990, Brazil had 10 billion dollar reserve ,however, now they have over 330 billion dollar reserve. Still Brazil has not payed those debts as of yet.
In 1990, Brazil had 10 billion dollar reserve ,however, now they have over 330 billion dollar reserve. Still Brazil has not payed those debts as of yet.
Hyperinflation in Brazil - Wikipedia
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