Brazil's 1999 crisis was relatively short lived because

Question

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Brazil's 1999 crisis was relatively short-lived because Brazil's financial institutions had avoided heavy borrowing in dollars. This meant that they were less susceptible to the financial shockwaves caused by the devaluation of the Brazilian real. Additionally, the Brazilian government took measures to boost investor confidence, such as creating a currency stabilization fund and agreeing to an IMF bailout package. These factors helped to stabilize the economy and prevent a more severe and prolonged crisis.

Brazil's 1999 Crisis Was Relatively Short Lived Because