Secret files reveal the role that Mario Garnero had on Ronald Reagan's visit to Brazil

SAO PAULO, Sept. 6, 2012 /PRNewswire/ -- "O Globo" Brazilian newspaper had access to secret files from Brazilian Ministry of Foreign Affairs, stored at the Brazilian National Archive. Those documents revealed the fundamental role Mario Garnero, chairman of Brasilinvest, Brazil's pioneer merchant bank, had 30 years ago, when Brazil received a bridge-loan from USA of US$ 1.5 billion. In 1982 Brazil was on the verge of insolvency and this particular loan helped the country to breath until a formal deal was closed in 1983 with IMF.

On Eliane Oliveira's report, from "O Globo", Garnero confirmed he was approached by former president Joao Figueiredo. At this time Mario Garnero was the president of the Brazilian Confederation of Industry and had a close relationship with George Shultz, former counselor of Brasilinvest and Secretary of State during Reagan's administration. "I need your help to show United States that we have a plan to leave the crisis behind", the President said to Garnero. In September of the same year Garnero had a two hour meeting with Shultz, when he invited the secretary to go to Brazil. "He told me he didn't have an official invitation and I managed to get one with the surety of the Brazilian Presidency". A few days later he received a surprise call from Shultz: "The duck that will fly to Brazil is much fatter than you think".  The duck was former president Ronald Reagan, who flew to Brazil on December 1982 with the US$ 1.5 billion loan the country so desperately needed.

Some demands to release the money were as expensive as the loan. Among them, Brazil committed itself to fully support Cold War policies and to approve each and every proposal United States would forward to International Trade System.

Contact:
Daniela Abade
Communications Manager of Brasilinvest Group
Contact: [email protected]
Phone: 55-11-3094-4016

SOURCE Brasilinvest

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