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anterior, estavam a abertura comercial via redução da alíquota de im- portação, o arrefecimento dos gastos públicos com o início das priva- tizações, o incentivo à demissão de servidores públicos e a redução de incentivos fiscais. As medidas estavam alinhadas com o perfil do novo governo, que pregava uma participação menor do Estado na atividade econômica do País.
A comprovação de que as mudanças não seriam sutis veio quando, naquele mesmo mês, foi lançado o Plano Collor, caracterizado pela restrição monetária30. Na tentativa de frear a inflação, que che- gara a 2.000% em 1989, Collor adotou medidas drásticas: congelou os preços e os salários e confiscou todas as aplicações financeiras que ul- trapassassem US$ 1.20031. O sequestro de liquidez tinha por objetivo reduzir o estoque de moeda, o que levaria a uma queda da demanda agregada e consequente arrefecimento da inflação. O impacto para as cooperativas de crédito foi a diminuição da liquidez.
Assim como o Plano Collor, o fechamento do BNCC foi um movimento inesperado de parte do governo, representando uma que- bra no contrato que o Estado brasileiro tinha com as cooperativas.
Memória
Looking back
which represented a break from
the previous administration, were:
the expansion of trade by reducing imports, cuts in public spending
and the beginning of privatizations, incentives for terminating public employees and a reduction in tax incentives. The measures were in line with the new administration’s agenda, which advocated less government participation in the country’s economic activity.
Evidence that these were not just subtle changes came in March
1990, when the Collor Plan was launched, characterized by monetary restrictions30. In an attempt to
slow down inflation, which was at
2,000% in 1989, Collor adopted drastic measures. He froze prices and salaries and seized all investments that exceeded US $1,20031. The seizure
of funds was intended to reduce the money supply, which would decrease total demand and thereby bring down inflation.
As with the Collor Plan, the closure of the BNCC was an unexpected move that amounted to the government’s breaching its contract with the credit unions. Aside from no longer being able to write checks, members could not access their savings, which were impounded and blocked. Since the government had made no plans to replace these services, the Bank of