Prologue to the third letter

Edmar Bacha ()

Brazilian Journal of Political Economy, 1983, vol. 3, issue 4, 413-427

Abstract: This note is an attempt at providing a background for understanding someproblems of the negotiations between Brazil and the IMF. The rules of the adjustment gameunder the current international economic order are discussed first. Then an evaluation ismade of the role played by the Fund and of its tendency to “overkill” in the drawing of adjustmentprograms. Examples of this are provided by an analysis of the second letter of intentsubmitted by Brazil to the Fund. JEL Classification: E31; E60.

Keywords: IMF; stabilization; crisis; inflation; adjustment program (search for similar items in EconPapers)
Date: 1983
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