U.S. News & World Report (18 June 1990) had already noted, under the heading of "Latin America's surprising call to arms", that "huge state-owned companies are up for sale. Privatization has finally become a reality as the Government begins to shed dozens of bloated companies that form one of the biggest drains on their national resources... Brazil has slated 24 entities for sale or closure... Brazil is struggling to balance her ledgers this year by increasing taxes and beefing up collection. Yet, state firms still drain one third or more of Brasilia's budget deficit" (40). The foreign debt in 1990 was US$ 115 billions.
"What future Amazonia?" UNESCO Courier November 1991: 32-4.
Two years after being elected, the President's health has given concern to Brazilians. The booming stockmarkets dropped suddenly when newspapers hinted at a health problem. By the conventions of Brazil's presidency, Mr. Collor is not entitled to a holiday. He has lost weight steadily during his two strenuous years in office. He insists that his health is sound and he maintains a rigorous exercise schedule. Yet, his behavior is often so quirky that Brazilians are beginning to wonder.
"Is the scandal of street children murders linked to traffic in drugs?" Latin America Weekly Report WR-91-33 August 29, 1991.
By mid-August 1990, already 145,000 civil servants had been dismissed, and 43,000 had been put on availability status. All vacancies in the civil service were frozen and a retraining program was proposed to facilitate the recycling of personnel on availability status within federal bureaucracy. Several government agencies were made extinct. Ministries decreased in number - from 23 to 12.
idence. President Collor had wrested approval of tax reforms from the Brazilian Congress in December 1990, which immediately led to a signed letter of intent with the International Monetary Fund for a $2.1 billion standby facility. A final Agreement was reached with the Pari