Brazil: Real Plan and the Real's Float (1994-2002)

1. Hyperinflation peaks, pushing need for a new plan

   Jan 1, 1993Labels: Hyperinflation

   • BCB Real Plan

2. URV unit of account begins transition

   Mar 1, 1994Labels: URV

   • BCB Real Plan

3. Brazil launches the real (BRL)

   Jul 1, 1994Labels: Real BRL

   • BCB Real Plan
   • Wiki Real

4. Central bank formalizes exchange-rate band system

   Mar 1, 1995Labels: Exchange-rate band

   • SEC Filing

5. Copom created to set monetary-policy interest rates

   Jun 20, 1996Labels: Copom

   • Wiki Copom
   • BCB Rates

6. IMF approves stand-by credit amid mounting pressures

   Dec 2, 1998Labels: IMF Stand-by

   • IMF PR 98
   • US Treasury

7. Brazil widens trading band as defense falters

   Jan 13, 1999Labels: Trading band

   • CNN 1999 01

8. Brazil abandons band and lets the real float

   Jan 15, 1999Labels: Real float

   • CNN 1999 01

9. IMF-backed program is updated for the new regime

   Mar 8, 1999Labels: IMF program

   • IMF LOI 1999

10. Inflation targeting is established by presidential decree

    Jun 21, 1999Labels: Inflation targeting

    • BCB Inflation
    • BCB Legal

11. Fiscal Responsibility Law strengthens budget rules

    May 4, 2000Labels: Fiscal Responsibility

    • Wiki LRF
    • FHC Presidency

12. Election-year shock brings IMF record stand-by support

    Sep 1, 2002Labels: 2002 IMF

    • IMF 2002 Loan
    • IPS Aug 2002