06/24/2024 – 16:18
The FHC Institute held the “30 Years of the Real Plan” event on Monday afternoon, the 24th, with the participation of the creators of the plan that created the Brazilian currency in force to this day. André Lara Resende, Arminio Fraga, Edmar Bacha, Gustavo Franco, Pedro Malan and Persio Arida were present.
“What happened to the real is something that cannot be repeated”, said Arida. For the economist, the scenario and characters involved in the new economic plan at the time were very specific, and helped to transform the real today into a “public good”.
“There was collective work, it wasn’t an idea out of nowhere”, he recalls. “The point was to understand the specificity of the Brazilian economy. Living with indexing. And a trajectory of sequences of plans, price freezes, etc. We were 20% [de inflação] in 1970 at more than 2,000% ahead of the real. There was something very different in Brazil from normal inflation processes.”
Persio then highlighted the performance of Fernando Henrique Cardoso, then Finance Minister of Itamar Franco (1992-1994), who, according to Arida, had a double characteristic that was important at the time: that of a politician and an intellectual.
“It is difficult to imagine a Minister of Finance convincing the President of the Republic, who had his own ideas, and forming an alliance with parties, traveling the country with democratic pedagogy. This double characteristic was vital to the success of the plan. If it hadn’t been for FHC’s political leadership, none of this would have happened.”
Another point for the success of the plan, according to Arida, was the environment of ideas that gave rise to reality. “Yes, it was an original plan, but it only came to fruition because there was an environment for discussion and improvement of these ideas and someone who decided to support them politically.”
#happened #real #repeated #Persio #Arida #event #celebrating #currencys #30th #anniversary