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Brazil Bulletin Interview

Interview: Paulo Faria-Tavares, Managing Partner, PTX Lending consultants

“The economic team has fallen into a trap of its own making—the trap of growth at any price.”

Before Brazil can aim squarely at sustainable economic growth, the country needs to finally defeat the lingering shadow of inflation. That could mean higher interest rates. It could also spell a resurgence of unemployment. The policy choices are not easy, according to Paulo Faria-Tavares, who advises Brazilian clients on overseas lending opportunities. Excerpts from a recent interview follow:

Last Updated on Monday, 17 March 2014 10:58

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Inflation Not Quite Tamed Despite Fifth Brazil Rate Hike

By Tom Murphy

SAO PAULO--The Brazilian Central Bank has made a dent in inflation with five straight interest rate hikes--but it has failed to completely tame the vexing phenomenon often pictured in the Brazilian media as a voracious dragon.

In a unanimous decision Wednesday night, the bank acted again to raise its Selic base interest rate, this time by a half percentage point to a towering 9.5%. The rate began 2013 at 7.25%.

Last Updated on Monday, 17 March 2014 10:58

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Support for Brazil's Rousseff Slips in Poll

 

Respondents Cite Inflation, Corruption and Deteriorating Public Services as President's Rating Falls to 31%

By PAULO TREVISANI And TOM MURPHY

BRASÍLIA—Public support for Brazilian President Dilma Rousseff is slipping ahead of 2014 elections, according to a public-opinion poll published Tuesday, with the leader unlikely to get any help from a stagnating economy.

A nationwide poll by the MDA research organization, conducted for Brazil's National Transport Confederation, showed support for the Rousseff administration diminished to 31% from 54% in early June. Respondents cited inflation, corruption and deteriorating public services in their critique of the administration, now in its third year.

"Awareness of corruption is now very high in Brazil," said Clésio Andrade, the confederation's president. "Next year's election is now wide open." The confederation, which represents mass-transportation and other companies, has run similar polls since 1998. A spokeswoman said it had no role in the June protests against a mass-transport-fare increase that grew into nationwide demonstrations against a range of grievances.

Last Updated on Monday, 17 March 2014 11:04

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Latest Poll, Economy Spell Bleak Outlook for Brazil's President

By Paulo Trevisani and Tom Murphy

BRASILIA--Public support for embattled Brazilian President Dilma Rousseff is slipping away ahead of 2014 elections, according to a public opinion poll published Tuesday, with the leader unlikely to get any help from a stagnating economy.

A nationwide poll by the MDA research organization, conducted for Brazil's National Transport Confederation, showed support for the Rousseff administration diminishing to 31% from 54% in early June. Respondents cited inflation, corruption and deteriorating public services in their critique of the administration, now in its third year.

Last Updated on Monday, 17 March 2014 11:04

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UPDATE: Brazil's Markets Feel Pain of Domestic, Global Stress

By Tom Murphy

SAO PAULO--Brazilian financial markets on Thursday faced the pain of a long-awaited global asset adjustment in addition to its own vexing domestic problems, sending the currency plunging as interest rates surged higher.

Prospects for improvement in the U.S. economy aggravated market concerns about weak growth and high inflation in Latin America's largest nation. Those worries, plus uncertainty about government policy and massive demonstrations across the country against a variety of social concerns, mean Brazil is bearing the brunt of the global market's reaction to the reversal in U.S. easy-money policies.

Last Updated on Monday, 17 March 2014 11:03

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