August 1, 2002
1. Wide shot people in the streets
2. People in the street
3. Zoom out newspapers hanging at news stand
4. Close up newspaper headline (Speculation takes the exchange rate to 3,47 Reals)
5 Close up newspaper headline (Brazilian crisis threatens Latin America)
6. Zoom in from exterior of Exchange Bureau to Exchange rate board
7. Close up exchange rates
8. SOUNDBITE: (Portuguese) Vox pop:
"I think it is driving everybody crazy. Honestly, I am terrified. I hear them saying that it is going to come down but all it does is go up"
9. Pan exterior Exchange Bureau
10. Close up counting dollar bills
11. Woman giving back Reals
12. SOUNDBITE: (Portuguese) Vox pop:
"It is very bad. The wages are the same but prices keep going up. How are the Brazilian people going to manage?"
15. Set up shot of vox pop
16. SOUNDBITE: (Portuguese) Vox pop:
"Everybody is worried because we were told that there was stability, but now, it is all falling apart. It is obvious we are worried"
17. Wide shot empty electronics shop
18. Pan of shop products
19. Price tag on TV set
20. Pan of bread display in bakery
21. Close up of bread being put in a paper bag
22. Zoom out from petrol pump to petrol station
23. Man paying for petrol
24. Set up shot of economist Antonio Carlos Porto Goncalves - Director of the Brazilian Institute of Economics
25. SOUNDBITE: (English) Antonio Carlos Porto Goncalves - Director of the Brazilian Institute of Economics:
"The tendency, I guess, is that the exchange rate cannot go up indefinitely because if it goes up it will immediately correct itself with an increase of exports and hindering imports. So dollars will come through trade and not through foreign investments and things like that."
26. Man carrying a sack of coffee
27. Pile of coffee sacks
28. Close up coffee bag " Cafe do Brasil"
29. Truck unloading coffee sacs at the port
30. Soya grain being loaded into a ship
August 1, 2002
31. Computer monitor showing latest stock exchange movement
32. Close up broker on the phone
33. Wide shot operation floor of investment bank
It has been a week of great uncertainty in Brazil. The Real fell to an historic low against the US dollar reaching 3.60, the worst performance of the Brazilian Currency since the launch of the new economic plan 8 years ago.
It recovered a little bit by the end of the week but the rise of the dollar made people realize that, maybe, things weren´t going as smoothly with the Brazilian economy as the government was leading the population to believe. People are worried.
Most products Made in Brazil need imported parts so the inflation, which Brazilians thought was a ghost from the past, is slowly showing up again.
The price of petrol, regulated by the dollar, is pushing up the prices of all other products - even basic products like bread need imported flower.
Economy analysts like Professor Antonio Carlos Porto Gonaçalves, Head of the Brazilian institute of Economics are confident that the situation is temporary and stress that what is happening in Brazil has nothing to do with the Argentinean crisis and point out that Brazil has a much stronger economy and a solid banking system.
The current exchange rate made Brazilian products more competitive in the foreign markets but the dollars that the government desperately needs will not start flow in immediately.
Once again the government has had to go to the International Monetary Fund for help.
Rumours that an agreement with the IMF was reached this week was enough to calm down the market.
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