Inflação e planos de estabilização monetária no Brasil entre 1986 e 1994

Abstract

In Brazil, inflation was constituted as a serious problem for several years. At the beginning of the Government of President Jose Sarney in 1985, the debate consisted in identifying the cause of high inflation in Brazil. Several chains presented themselves, but the current winner pointed out a diagnosis of inertial inflation. So, in 1986 Cruzado plan is launched. With the failure of the Cruzado plan, Sarney's Government released other monetary stabilization plans: Plano Bresser (1987) and Summer Plan (1989) with a diagnosis of inertial inflation and demand, but without success. In the years 1990, during the Government of President Fernando Collor de ello, was produced another plan in order to combat inflation the so called Collor Iplans which failure, so it was launched Collor II plan, which also had disastrous results. As a result, inflationary accelerated and one of the biggest speeches of Brazilian economic history with the blocking part of the financial holdings in March 1990 made in Collor Plan I. The inflation acceleration problem was solved only with the Real plan in 1994 which diagnosed the Brazilian inflation as a result of a high public deficit. To that end, the Real plan was conducted in the Government of President Itamar Franco in three steps: fiscal adjustment; creation of the URV (Real Unit of value) and Actual release. This work aims therefore to analyse the monetary stabilization plans: Cruzado, Bresser, Verão, Collor I, Collor II and Real, assessing their respective reflexes in tackling Brazilian inflation, as well as in the national economy. The study has explanatory and descriptive nature, having the author used secondary data and made use of documentary and bibliographic research. The results showed an inflationary stabilization in Brazil achieved only after Real Plan was performed with its auxiliary measures.