Gaucho (currency) without any initial plans to establish a common currency. Later, in 1994, Brazil established the Brazilian real, still in use, putting an end to the frequent currency changes that took place in the country throughout the 1980s and the 1990s. On such panorama, the Gaucho plan has been virtually shelved. On 17 July 1987, in the city of Viedma (Río Negro, Argentina), President Raúl Alfonsín of Argentina and President José Sarney of Brazil signed Protocol Number 20 which stated the following: Considering: Viedma, 17 July 1987 Gaucho (currency) The Gaucho was the name of a currency intended to be used
Brazil financial crisis, the Russian default in 1998 and the series of adverse financial events that followed it, the Central Bank of Brazil temporarily changed its monetary policy to a managed-float scheme while undergoing a currency crisis, until definitively changing the exchange regime to free-float in January 1999. Brazil received an International Monetary Fund rescue package in mid-2002 of $30.4 billion, then a record sum. Brazil's central bank paid back the IMF loan in 2005, although it was not due to be repaid until 2006. One of the issues the Central Bank of Brazil recently dealt with was an excess of