Surviving Brazil’s Hyperinflation in the 1990s – Rosaliene Bacchus

Three Worlds One Vision

Parcel your purchase in three installments without interest on your Credit Card

Minimum Installment R$5.00 (US$2.47 on 08/26/12)

Source: http://www.gramado.onde.ir

 

When I started working at Melon Exporters S.A. in the early 1990s, I earned an impressive seven-figure monthly salary, the equivalent of six minimum salaries at that time. Those were the days when we struggled with hyperinflation. A year later, the Brazilian Central Bank chopped off three zeroes from the cruzeiro in circulation and introduced the cruzeiro real.

One of my challenges as a working solo mom was keeping my two sons in a good school: a safe environment with qualified teachers. At the beginning of every school year, text books, school materials, and school attire stretched my budget to bursting point. Several major retail stores offered in-store credit to customers with a good credit history. I needed a chance to build my credit history. Help came from…

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Comments

  • Rosaliene Bacchus  On August 27, 2012 at 4:19 pm

    Cyril, thanks for sharing my blog article. Much appreciated.

    The Brazilian working class, with salaries tied to the minimum wage, use the installment plan credit system to buy refrigerators, televisions, stoves, washing machines, furniture, electrical appliances, clothing, and other desired items.

    More ambitious individuals with long-term goals for their family’s security have constructed their own homes, a nail-and-block at a time.

    The resourcefulness of the Brazilian people was a great lesson for me.

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