The recent adjustments of the economy have been successful. We came out handsomely of the Russian and Asian crisis and of the ensuing 1999 devaluation of the real. Inflation has remained under control. Low inflation and a high rate of growth is a positive combination that had not materialized in Brazil since the debt crisis of the 80 s. We will have this year the biggest grain harvest in History.
Unemployment is down.
The spillover from current uncertainties about the economy in Argentina has been kept to a minimum. This is happening because the fundamentals of the Brazilian economy are much sounder today than they were in the past. We are convinced that we have entered a virtuous cycle of sustained growth. The political system is solid. Democracy has taken root for good as it stands out as the basis for political and economic stability, for confidence in the financial markets and for the respect of human rights.