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Brazilian Real
The Brazilian real (plural, pl. '; currency symbol, sign: R$; ISO 4217, code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the Brazilian cruzeiro real, cruzeiro real in 1994. the real was the twentieth most traded currency. History Currencies in use before the current real include: * The ''Portuguese real'' from the 16th to 18th centuries, with 1,000 ''réis'' called the ''milréis''. * The ''Brazilian real (old), old Brazilian real'' from 1747 to 1942, with 1,000 ''réis'' also called the ''milréis''. * The ''Brazilian cruzeiro (1942–1967), first cruzeiro'' from 1942 to 1967, at 1 cruzeiro = 1 ''milréis'' or 1,000 ''réis''. * The ''Brazilian cruzeiro novo, cruzeiro novo'' from 1967 to 1970, at 1 cruzeiro novo = 1,000 first cruzeiros. From 1970 it was simply called the ''Brazilian cruzeiro (1967-1986), (second) cruzeiro'' and was used until 1986. * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brazil
Brazil, officially the Federative Republic of Brazil, is the largest country in South America. It is the world's List of countries and dependencies by area, fifth-largest country by area and the List of countries and dependencies by population, seventh-largest by population, with over 212 million people. The country is a federation composed of 26 Federative units of Brazil, states and a Federal District (Brazil), Federal District, which hosts the capital, Brasília. List of cities in Brazil by population, Its most populous city is São Paulo, followed by Rio de Janeiro. Brazil has the most Portuguese-speaking countries, Portuguese speakers in the world and is the only country in the Americas where Portuguese language, Portuguese is an Portuguese-speaking world, official language. Bounded by the Atlantic Ocean on the east, Brazil has a Coastline of Brazil, coastline of . Covering roughly half of South America's land area, it Borders of Brazil, borders all other countries and ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brazilian Cruzado Novo
The Cruzado Novo was the short-lived currency of Brazil between 15 January 1989 and 15 March 1990. It replaced the brazilian cruzado, cruzado in the rate of 1000 cruzados = 1 cruzado novo. It had the symbol \mathrm\!\!\!\Vert and the ISO 4217 code ''BRN''. In 1990, the cruzado novo was renamed the (third) Brazilian cruzeiro (1990–1993), cruzeiro. This currency was subdivided in 100 ''centavos''. The redenomination was the result of Plano Verão, which would become one of several heterodox plans in an attempt to stabilize the currency, and the path of redenomination was used to try to circumvent possible legal challenges due to rights established in the currency at that time, as happened in the Bresser Plan. The method of monetary redenomination would be used again in 1990, when Fernando Collor de Mello assumed the presidency, and this redenomination to cruzeiro was on par with this currency then in circulation, despite the even darker effects of such an economic plan. Unlike th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luiz Inácio Lula Da Silva
Luiz Inácio Lula da Silva (; born Luiz Inácio da Silva; 27 October 1945), known Mononym, mononymously as Lula, is a Brazilian politician, trade unionist and former metalworker who has served as the 39th president of Brazil since 2023. A member of the Workers' Party (Brazil), Workers' Party, Lula was also the 35th president from 2003 to 2011. Born in Pernambuco, Lula quit school after second grade to work, and did not learn to read until he was ten years old. As a teenager, he worked as a metalworker and became a trade unionist. Between 1978 and 1980, he led the 1978–1980 ABC Paulista strikes, ABC workers' strikes during Brazil's military dictatorship in Brazil, military dictatorship, and in 1980, he helped start the Workers' Party during Redemocratization in Brazil, Brazil's redemocratization. Lula was one of the leaders of the 1984 Diretas Já, ''Diretas Já'' movement, which demanded direct elections. In 1986 Brazilian legislative election, 1986, he was elected a federal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BNDES
The National Bank for Economic and Social Development or NBESD (, abbreviated: BNDES) is a development bank structured as a federal public company associated with the Ministry of the Economy of Brazil. The stated goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is one of the largest development banks in the world (after the Chinese Development Bank, which boasts assets of around RMB 7.52 trillion, or around $1.2 tn). Its non-performing loan ratio is also less favorable (2.2%) compared to the CDB's that stands below 1%. Among the objectives of BNDES are the strengthening of the capital structure of private companies, the development of capital markets, the trading of machines and equipment and the financing of exports. Since its establishment on June 20, 1952, BNDES has financed large-scale industrial and infrastructure endeavors and has played a significant role in the support of investments in agriculture, commerce, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arminio Fraga
Armínio Fraga Neto (born 20 July 1957, in Rio de Janeiro) is a Brazilian economist who was president of the Central Bank of Brazil from 1999 to 2003. From 1993 until his appointment to the Central Bank, he was Managing Director of Soros Fund Management in New York. Since 2001, he has been a member of the influential Washington-based financial advisory body, the Group of Thirty. Education Fraga received his PhD in economics from Princeton University in 1985. Career In 2003, he founded the Rio de Janeiro based investment company, Gávea Investimentos. Fraga has been called the Alan Greenspan of Latin America for his skillful handling of Brazilian monetary policy during his tenure as CBB president. Fraga worked for both Fernando Henrique Cardoso governments. In 2009, Fraga served on the High Level Commission on the Modernization of World Bank Group Governance, which – under the leadership of Ernesto Zedillo – conducted an external review of the World Bank Group's gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russian Default
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries. Background and course of events The Russian economy had set up a path for improvement after the Soviet Union had split into different countries. Russia was supposed to provide assistance to the former Soviet states and, as a result, imported heavily from them. In Russia, foreign loans financed domestic investments. When it was unable to pay back those foreign borrowings, the ruble devalued. In mid-1997, Russia had finally found a way out of inflation. The economic supervisors were happy about inflation coming to a standstill. Then the crisis hit, and supervisors had to implement a new policy. Both Russia and the countries that exported to it experienced fiscal deficits. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quintillion
Depending on context (e.g. language, culture, region), some large numbers have names that allow for describing large quantities in a textual form; not mathematical. For very large values, the text is generally shorter than a decimal numeric representation although longer than scientific notation. Two naming scales for large numbers have been used in English and other European languages since the early modern era: the long and short scales. Most English variants use the short scale today, but the long scale remains dominant in many non-English-speaking areas, including continental Europe and Spanish-speaking countries in Latin America. These naming procedures are based on taking the number ''n'' occurring in 103''n''+3 (short scale) or 106''n'' (long scale) and concatenating Latin roots for its units, tens, and hundreds place, together with the suffix ''-illion''. Names of numbers above a trillion are rarely used in practice; such large numbers have practical usage primarily in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unidade Real De Valor
The Daily Unidade Real de Valor, or URV (Portuguese, ''Real Value Unit''), was a non-monetary reference currency (i.e., non-fiat) created in March 1994, as part of the Plano Real in Brazil. It was the most theoretically sophisticated piece of the Plano Real and was based on a previous academic work by Pérsio Arida and André Lara Resende, the "Larida Plan", published in 1984. Its main purpose was to establish a parallel currency to the cruzeiro real, free from the effects of inertial inflation on the latter, which exceeded 1,200% per year prior to the implementation of the new currency, the real. It was conceived as a temporary instrument to break up the "psychological inertia" that had ingrained in the Brazilian mindset and which caused prices to keep rising as a consequence of ''subjective'' estimation of inflation or ''preemptive adjustment'' without cost assessment. These phenomena are among the chief characteristics of hyperinflation, resulting from the erosion of conf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. It is generally only mandatory to recognize the payment of legal tender in the discharge of a monetary debt from a debtor to a creditor. Sellers offering to enter into contractual relationship, such as a contract for the sale of goods, do not need to accept legal tender and may instead contractually require payment using electronic methods, foreign currencies or any other legally recognized object of value. Coins and banknotes are usually defined as legal tender in many countries, but personal cheque, checks, credit c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Plano Real
The Plano Real (" Real Plan",The word ''real'' in Portuguese could be translated either to ''real'' or ''royal'' in English. The name of the plan comes from the name of the currency which was chosen to give the idea of a stable and credible purchasing power. in English) was a set of measures taken to stabilize the Brazilian economy in 1994, during the presidency of Itamar Franco. Its architects were led by the Minister of Finance and succeeding president Fernando Henrique Cardoso. The Plano Real was based on an analysis of the root causes of hyperinflation in the '' New Republic'' of Brazil, that concluded that there was both an issue of fiscal policy and severe, widespread inertial inflation. The Plano Real intended to stabilize the domestic currency in nominal terms after a string of failed plans to control inflation. Background According to economists, one of the causes of inflation in Brazil was the inertial inflation phenomenon. Prices were adjusted on a daily b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Brazil
The economy of Brazil is the largest in Latin America and the Southern Hemisphere in nominal terms. As of 2024, the Brazil, Brazilian economy is the third largest in the Americas in nominal terms, and second largest in purchasing power parity. It is an List of countries by GNI (nominal) per capita, upper-middle income Developing country, developing economy. In 2024, according to International Monetary Fund (IMF), Brazil had the List of countries by GDP (nominal), 10th largest nominal gross domestic product in the world, but the List of countries by GDP (PPP), 7th largest Purchasing power parity, purchasing power parity GDP in the world. In 2024, according to ''Forbes'', Brazil was the 7th largest country in the world by number of billionaires. Brazil is one of the ten chief Industry (economics), industrial states in the world according to International Labour Organization. According to the International Monetary Fund (IMF), Brazil's nominal GDP was US$2.331 trillion; the country ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rubens Ricupero
Rubens Ricupero (born March 1, 1937) is a Brazilian academic, economist, bureaucrat and diplomat. He served as the fifth Secretary General of the United Nations Conference on Trade and Development from September 1995 to September 2004. Education Ricupero earned a Bachelor in Law from the University of São Paulo in 1959. He also studied at the Rio Branco Institute, a branch of the Brazilian Ministry of Foreign Relations. Career From 1979 to 1995, Ricupero taught courses in international relations at the University of Brasília; and in the same period, he also taught the history of Brazilian diplomatic relations at the Rio Branco Institute. Ricupero was Chairman of the Finance Committee at the United Nations Conference on Environment and Development which was held in Rio de Janeiro in 1992.Dornbusch, Rüdiger ''et al.'' (1995). He was the Brazilian Minister of the Environment and Amazonian Affairs, before becoming Minister of Finance in 1994. He is credited with provid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
