Archive, 1995: Man of the Year: Fernando Henrique Cardoso

Archive, 1995: Man of the Year: Fernando Henrique Cardoso

Man of the Year                   The year 1994 was a chaotic one for Latin American financial markets. Rising US interest rates, plunging global bond markets and regional difficulties in countries such as Mexico and Venezuela put a tight clamp on capital flows to the region. But in the midst of an uncertain scenario, Brazil took a major step toward assuming its role as a regional powerhouse—and an academic-turned-politician finance minister played an instrumental role in that step. During his tenure as Brazil’s finance minister, Fernando Henrique Cardoso designed and implemented the multifaceted stabilization plan that cut

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