Luiz Carlos Bresser-Pereira e Yoshiaki Nakano
Valor Econômico, 20.8.2002.
Since the balance of payments crisis does not originate in excess demand but in excess debt, internal recession must be faced. Government should lower interest rates and support business enterprises that face increasing difficulties.
   



 
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
             
                    
                    
                    
                
            