Plano Brady: da retórica à realidade
DOI:
https://doi.org/10.1590/1980-53572412ppfKeywords:
Brady Plan, Baker Plan, IMF, Brazil, Costa Rica, Venezuela, Uruguay, secondary market, moratoriumAbstract
In this paper we review the first five years of the so-called "Brady Plan", the American strategy for the debt problem of the severely indebted middle income countries. We have a special interest in the debt-reduction operations that took place in Latin America under the orientation of this plan. During the first five years, some important Latin-American
debtors have rescheduled their debts according to the Brady Plan: Mexico, Costa Rica, Venezuela, Uruguay, Argentina and Brazil. After assessing the financial savings provided by the debt-reduction packages, we analyze the impact of the debt renegotiations in restoring the confidence of creditors.
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