- published: 01 Jul 2014
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The Plano Real (Real Plan, in English) was a set of measures taken to stabilize the Brazilian economy in early 1994, under the direction of Fernando Henrique Cardoso as the Minister of Finance, during the presidency of Itamar Franco.
Its architects include, among many others, Edmar Bacha, Pérsio Arida, André Lara Resende, Gustavo Franco, Pedro Malan, Winston Fritsch and Francisco Pinto.
According to economic academics, one of the causes of inflation in Brazil was the inertial inflation phenomenon. Prices were adjusted on a daily basis according to changes in price indices and to the exchange rate of the local currency to the U.S. dollar. Plano Real then created a non-monetary currency, the Unidade Real de Valor ("URV"), whose value was set to approximately 1 US dollar. All prices were quoted in these two currencies, cruzeiro real and URV, but payments had to be made exclusively in cruzeiros reais. Prices quoted in URV did not change over time, while their equivalent in cruzeiros reals increased nominally every day.
20 Anos do Plano Real - AlfaCon
Lançamento do Plano Real - 01.07.1994
Ciro Gomes - bastidores do Plano Real
Dois Pontos - Plano Real
A verdade oculta sobre o plano real Dr. Eneas Carneiro
20 anos de Plano Real
O Plano Real segundo FHC (1/15)
A história do Plano Real
ParabenX Plano Real Prof Thiago Feitosa
Itamar Franco e o lançamento do Plano Real
FHC explica o plano
FHC faz balanço dos 20 anos do Plano Real
Plano real de Fernando Henrique Cardoso - 1994
Plano real completa 20 anos