This paper makes a partial assessment of the Brazilian privatization program in the 1990s. The article focuses mainly on the fiscal impact of asset sales, which, we argue, has been relatively small. We conclude that the failure of the government's stabilization attempts has reduced the fiscal...

This paper makes a partial assessment of the Brazilian privatization program in the 1990s. The article focuses mainly on the fiscal impact of asset sales, which, we argue, has been relatively small. We conclude that the failure of the government's stabilization attempts has reduced the fiscal...

This paper reviews the main elements of social security reform in Brazil since 1998 and discusses areas where further policy action is yet to be taken to ensure the sustainability of the social-security system over time. Outlays on pensions paid to private-sector workers have risen as a result...

This paper studies the medium run prospects--that is, up to 2003--for Brazilian foreign indebtedness based on an analytical framework that calculates the current account balance required to stabilize the ratio foreign liabilities/exports. We show that, in the absence of a real exchange rate...