Brazil
Argentina and Brazil join forces over Fund rules
Brazil and Argentina joined forces on Tuesday 16 March, asking the International Monetary Fund to remain flexible regarding their budget surpluses.
Meirelles says Brazil can stand Argentine default
President Henrique Meirelles of the Banco Do Brasil has said his county's economy can weather a possible default by the Argentine government on its $3.1 billion debt to the IMF, Brazilian newspaper Estado de S. Paulo reported.
Brazil senate committee wants to quiz Meirelles
The Brazilian senate's economic affairs committee has invited Finance Minister Antonio Palocci and Central Bank President Henrique Meirelles to explain the government's economic policy, the Senate's news agency reported.
IMF MD Horst Kohler's remarks on visit to Brazil
International Monetary Fund (IMF) Managing Director Horst Kohler made the following statement on Monday I march in Sao Paulo at the conclusion of his visit to Brazil.
IMF's Koehler confident on Brazil's growth
IMF Managing Director Horst Koehler said on Sunday 29 February that he had a "good feeling about Brazil", expressing confidence in the country's growth prospects for this year.
Brazil's Copom holds rate at 16.5%
The Banco Do Brasil's monetary policy committee (Copom) announced Wednesday it was holding its Selic interest rate steady at 16.5%.
Meirelles says Brazil can cope without IMF aid
Brazil's central bank chief, Henrique Meirelles, said in an interview that the country's dependence on the IMF could be reduced and a reduction in Brazil's "foreign vulnerability" could be achieved.
Brazil's Meirelles scotches resignation rumours
Rumours originating in New York this week suggested that Brazilian central bank president Henrique Meirelles was about to resign.
Brazil's Copom held rates over inflation fears
Brazil's monetary policy committee (Copom) minutes said that a majority of members decided to leave rates unchanged last week fearing that the inflation hike could go beyond January.
Brazil may shelve central bank autonomy idea
Brazil's government, headed by President Luiz Inacio Lula da Silva, is likely to shelve plans for increased central bank independence this year, after renewed investor confidence following last year's programme of economic austerity.
Brazil central bank cuts rate 1 point to 16.5%
The central bank of Brazil cut its Selic base rate by a percentage point to 16.5% on Wednesday 17 December. A Copom statement said that the cut was made "due to a trajectory of favourable targets for the resumption of economic activity."
IMF agrees to extend Brazil's credit deal
The IMF said on Monday 15 December that it has given Brazil a 15-month extension of its $34 billion loan agreement and will provide $6.6 billion in new funding, according to Associated Press. The Fund also agreed to Brazil's request for more time to…
Brazil's central bank hint need for more rate cuts
Minutes released by the central bank of Brazil from its monetary policy meeting, reported by AE Brazil, hint that interest rates may need to fall further as projected inflation for the next 12 months and 2004 remain below target.
Brazil makes unexpected cut to base rate
The central bank of Brazil's Copom monetary policy committee has cut its main interest rate to by 1.5 per cent, according to AFX. The Copom said in a statement that the decision to cut the selic to 17.5 pct, with no bias, was based on its positive…
Brazil's central bank warns over email fraud
The central bank of Brazil has warned the public against an email fraud scheme which asks people to register personal details about their bank accounts, with the email supposedly from the central bank, according to a report by Business News America.
Brazil c bank chief - IMF deal 'insurance'
Brazil's central bank president, Henrique Meirelles, has said the new IMF loan deal would give Brazil cheap insurance against international market volatility. But officials said they did not intend to draw on a $14 billion loan package from the IMF…
Meirelles: Brazil interest rates will keep falling
Bank of Brazil president Henrique Meirelles said Friday, according to AE Brazil, that low inflation could mean interest rates will continue to fall from the current 19%. Speaking ahead of a sovereign debt conference at the Dallas Federal Reserve Bank,…
IMF praises Brazil's economy
The central bank of Brazil has said that the country amply met the targets agreed with the International Monetary Fund, according to Merco Press. The primary surplus in the first three quarters of 2003 reached just over 20 billion US dollars compared to…
Central bank of Brazil cuts base rate to 19%
Brazil's central bank announced on Wednesday 22 October that it cut the Selic base rate to 19 per cent after its two-day meeting, reports AE Brazil. A Copom statement said that the cut was made because inflation is falling into line with targets.
Brazil "wants $10 bln IMF loan insurance"
Reports in Brazil said Finance Minister Antonio Palocci was negotiating with the IMF to secure "insurance" of $10 billion in emergency funds in case of an international economic crisis, according to Reuters. Palocci said he felt that if Brazil were to…
Brazil's central bank halves economic forecast
The Banco Central do Brazil has slashed its forecast for economic growth by more than half for this year to 0.6%, according to the Financial Times. The central bank also said it expected year-end inflation to reach 8.9 per cent, down from previous…
Brazil's cen bank: Economy showing recovery signs
The Banco Central do Brasil has said that the economy is showing signs of recovery and that they now view inflation as a lesser of the threats to the country's economy, according to MENAFN.
Brazil central bank cuts benchmark rate to 20 pct
The Central Bank of Brazil's Copom committee lowered the benchmark Selic rate by 2 per cent to 20 percent on Wednesday 17 September, according to AFX Europe. The central bank said the decision was unanimous.
Economy in Brazil contracts 1.4% in 2Q
Brazil suffered the largest contraction in its economy for five years in the second quarter of this year, according to Bloomberg News, as the largest government spending cuts on record and rising interest rates choked off demand.