Page 38 - Sicredi

A reestruturação do setor
Quando começou a década de 80, quase todas as cooperati­ vas de crédito fundadas no início do século 20 haviam sido extintas, por causa das restrições impostas pela Lei 4.595, em vigor desde 1964. No Rio Grande do Sul, onde chegaram a existir mais de 60 Caixas Rurais, havia apenas 12 remanescentes em 1980. A partici­ pação de instituições privadas no financiamento das atividades eco­ nômicas era mínima. Quem precisava de dinheiro tinha de recorrer, quase que exclusivamente, aos bancos estatais, que passaram a ser os principais agentes financeiros.
Ao longo dos anos 70, a sociedade brasileira conviveu com choques externos que afetaram a economia, provocando re­ dução na oferta de crédito. Diante da elevação do preço inter­ nacional do petróleo, em 1974, o governo brasileiro implantou o II Plano Nacional de Desenvolvimento (PND), aumentando a dívida externa para financiar o processo de industrialização. Em 1979, houve o segundo choque do petróleo, com nova alta nos preços, e o Brasil recorreu a um empréstimo do Fundo Mo­
Restructuring the cooperative sector
By the early 80’s, almost all the financial cooperatives that were founded at the beginning of the 20th century no longer existed due to the restrictions imposed by Law No. 4.595, in effect since 1964. In Rio Grande do Sul, where there had been over 60 Rural Banks, only 12 remained in 1980. Thus State banks had become the primary financial institutions and virtually the only source of credit.
Throughout the 1970’s, Brazil experienced some external economic shocks, causing a tightening of
credit. With the increase in the international price of oil in 1974, the Brazilian government implemented its Second National Development Plan (“PND”), increasing foreign debt to finance industrialization. In 1979, there was a second oil crisis, with further price increases. Brazil turned to the International Monetary Fund (IMF) for loans, devaluing its currency and increasing inflation.20
The economic situation was marked by high inflation and a shortage of credit. Cash deposits and public funds had been the main sources of financing, but the situation had become very critical. Inflation made certificates
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