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Tightrope tricks

Article Abstract:

Brazil had to increase interest rates by 100% in Oct 1997 due to the Asian financial crisis and the need to keep inflation low and preserve the Brazilian currency. The government has to balance voter's worries about unemployment and recession with markets' fears of the currenct account and fiscal deficits. The economy is stagnant although fiscal policy is loose. A low level of economic acceleration could create more problems with the balance of payments. Fiscal reform could help ease the situation.

Legislative Bodies, Budget, Economic policy, Brazil, Fiscal policy

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Unhappy returns: Pakistan

Article Abstract:

Pakistan Pres Farooq Leghari is allowing the army to make political decisions in his interim government before the Feb 3, 1997 elections. Former prime minister Benazir Bhutto and others are criticizing this move as undemocratic.

Public opinion, Leghari, Farooq

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Musharraf on the tightrope

Article Abstract:

Pakistani Pres Pervez Musharraf is using the US-led air strikes against Afghanistan to shake up the army and improve his grip on power. However, supporters of Osama bin Laden have been rioting against the US action.

Political activity, Armies, Musharraf, Pervez

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