VII. The Contemporary Period, 1945–2000 > D. Latin America, 1945–2000 > 2. South America, 1945–2000 > j. Brazil > 1954, Aug. 24
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  The Encyclopedia of World History.  2001.
 
 
1954, Aug. 24
 
Tarnished by repeated scandals and ordered to resign by the armed forces, PRES. VARGAS COMMITTED SUICIDE. He was succeeded by his vice president, João Café Filho.  1
 
1955, Oct. 3
 
In national elections, Social Democrat Juscelino Kubitschek (1902–76) and Laborite João Goulart (1919–76) won the presidency and vice presidency. Fueled by expansion of heavy industry, during the next five years the economy grew by nearly 7 percent annually. State enterprises combined with massive private multinational investment to produce the growth.  2
 
1959
 
Facing debt service payments that took up more than half the value of Brazil's exports, Kubitschek refused IMF demands for stabilization and expanded the money supply. This caused rampant inflation.  3
 
1960, April 21
 
Brasília was inaugurated as the new capital.  4
 
Oct. 3
 
Presidential elections resulted in victory for Jânio da Silva Quadros, an independent moderate.  5
 
 
 
The Encyclopedia of World History, Sixth edition. Peter N. Stearns, general editor. Copyright © 2001 by Houghton Mifflin Company. Maps by Mary Reilly, copyright © 2001 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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