Why the left isn't winning: Brazil. (President Fernando Henrique Cardoso seems assured of reelection, despite the country's economic difficulties)(Brief Article)

From: The Economist (US) | Date: September 19, 1998 | Copyright information

SAO PAULO

FROM the start of the campaign, President Fernando Henrique Cardoso has sought to turn his bid for a second term, in next month's election, into a referendum on the real, the strong currency he invented as finance minister in 1994. His message has been simple: thanks to the real and price stability, under his leadership Brazil will be able to move forward to tackle unemployment and other social problems. Now the real is gravely at risk, you might expect his prospects of re-election to be so too. Yet they are not. Why not?

In the past three weeks, amid capital flight ...

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