What Will Be The Impact Of Brazils Currency Devaluation?

The only responsible answer: Nobody knows for sure. Indeed, it could be several weeks before Brazil sorts out its policy options, and markets elsewhere take stock of the situation. The worst-case scenario: Brazil pulls the rest of Latin America into recession; lack of confidence causes recovering Asian economies to reverse course; and consumption drops-off dramatically in the U.S., with real growth falling to about 2% for 1999.

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