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Main Points: 1. Geisel's Second National Development Plan (PND II) 2. Figueiredo government and the new economic changes 3. Second oil crisis and change in policies 4. Mexican debt moratorium causing Brazil to get IMF assistance in 1982 and the effects 5. 1984-1985 recovery The first oil shock caused Brazil to enter a new phase in development. The country opted to take a growth policy that required substantial economical changes, a resurgence of inflation, and a rapid expansion of international debt. The country also was in a political change going from the end of the military regime to the beginning of a democratic government. The oil shock of 1973 which nearly quadrupled the price of petroleum. This effected Brazil especially since it was relying on imports for over 80 percent of the country's oil consumption. Brazil had two ways of reacting to this first oil shock. One way was to greatly reduce its nonoil...

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