English to Portuguese Bus/Financial Economics economics

The early developments of the currency crisis in Brazil followed along the paths of Mexico in 1995 and South Korea in 1997. A substantial OVERSHOOTING in the devaluation in the first months of the crisis, which did not last more than a year. Yet, while in Mexico the OVERSHOOTING was eliminated via inflation, which rose to over 50% (IPC) in 1995, in the case of South Korea, the adjustment occurred mainly through a nominal appreciation, with a very limited role for inflation. In the case of Brazil, there were fears that the appreciation of the real would follow Mexico’s footsteps, given the country’s dismal inflationary record, fears that also explain why the authorities had been reluctant to voluntarily allow the exchange rate to float in the first place.

Olá amigos,
O assunto é a crise cambial do final de 1998 e início de 1999 no Brasil.
Aceito sugestões para traduzir a palavra overshooting.

Obrigada,
ME