Brazil
Brazil sees Sept current account surplus of $1 bln
BRAZIL - Brazil's central bank on Thursday forecast a current account balance of payments surplus of $1 billion in September.
Brazil leaves interest rates unchanged
BRAZIL - Brazil's central bank has said it will leave interest rates unchanged at 18% until after the forthcoming presidential election, following fresh concerns over the country's economy.
IMF sees signs of Brazil contagion on bond market
US - The signs of bond market contagion from political uncertainty in Brazil developed in emerging bond markets in the second quarter of the year, according to an International Monetary Fund report published Thursday.
Letter of intent to IMF from Brazilian government
LETTER - The following item is a Letter of Intent of the government of Brazil, which describes the policies that Brazil intends to implement in the context of its request for financial support from the IMF.
Brazil's Fraga sees 2002 GDP growth at 1 per cent
BRAZIL - Brazilian central bank head Arminio Fraga said he expects Brazil's economy, now suffering from the fallout of severe market turmoil, to expand at about 1 percent this year, less than previous forecasts, according to a research report by Goldman…
Fraga says meeting with int'l bankers a success
BRAZIL - Brazilian central bank chairman Arminio Fraga said his meeting with international bankers in New York Monday was successful, Brazilian daily O Globo reported. Finance minister Pedro Malan was also present and said Brazil is prepared to honour…
Brazil c bank holds rates with a downward bias
BRAZIL - Brazil's central bank held its benchmark interest rate unchanged at 18 percent on Wednesday as financial turmoil ahead of October presidential elections continued to batter the currency and fan inflation.
Brazil banks to gain with new central bank rule
BRAZIL - A new regulation that requires banks to increase their deposit reserves with the central bank is expected to cause a gain of nearly 900mn reals (US$291mn) a year for the financial system as a whole, Brazilian daily Folha de Sao Paulo reported.
Central Bank of Brazil Working Paper Series
RESEARCH - Optimal Monetary Policy, Gains from Commitment, and inflation persistence by Andre Minella, Central Bank of Brazil, August 2002.
Brazil's central bank to reduce domestic debt
BRAZIL - The focus in Brazil's financial troubles shifted on Thursday to domestic reaction to the government's measures to boost prices of domestic debt and reduce volatility in the price of mutual funds.
Brazil's central bank to aid troubled companies
BRAZIL - Brazil's central bank chief on Monday pledged to lend money to embattled Brazilian companies as concern grew about the success of the International Monetary Fund's $30bn (£19bn) loan package.
Don't blame Brazil
ARTICLE - In an article in the Financial Times on Tuesday, George Soros suggests that the market's reaction to the IMF's $30bn rescue package in Brazil shows that a new approach is needed.
Brazil set for "largest ever" IMF loan of $30bn
BRAZIL - The International Monetary Fund has agreed to lend Brazil an extra $30bn (£20bn), hoping that this will help pull the country and the region out of crisis. The deal represents the largest loan the IMF has ever provided in its history.
Brazil's interbank clearinghouse to bring benefits
BRAZIL - Brazil's new interbank payment clearinghouse is expected to stimulate online transactions between banks once it becomes operational, Brazilian financial daily Valor Economico reported.
Paul O'Neill heals rift with Brazil on economy
US - Paul O'Neill and the Brazil government apparently saw eye to eye on Monday, with the US treasury secretary saying US support for Brazil had been consistent and his meetings with Brazilian policymakers "very cordial".
Brazil's real up on biggest single day gain ever
BRAZIL - Brazil's real broke a nine-session losing streak Thursday posting its biggest single day gain ever on hopes that help from the International Monetary Fund is on its way.
Argentine central banker admits contagion effect
ARGENTINA - Aldo Pignanelli, the president of the Argentine Central Bank (BCRA), said Friday that the Argentine crisis, which has been dubbed the "tango effect", has spread to Brazil and Uruguay, adding that the local banking and foreign exchange system…
Brazil's Fraga says currency falls temporary
BRAZIL - Brazil's Central Bank President Arminio Fraga said on Wednesday the real currency's nosedive amid pre-election pressures was temporary and that an expected loan deal with the International Monetary Fund should help soon.
Brazil's Fraga hopes for IMF deal by 12 Aug
BRAZIL - Brazil's Central Bank President Arminio Fraga said on Tuesday he expected the country to clinch a much-awaited deal with the International Monetary Fund, by 12 August, that should help calm pre-election market jitters.
New Basle norms favour SME lending - Brazil
BRAZIL - New Basle norms that will be applied in Brazil and other developing countries in 2006 will loosen reserve requirements for banks lending to small- and medium-sized enterprises (SMEs), Brazilian daily Panorama Brasil reported on Tuesday.
Brazilian real hits new low as c bank cuts rates
BRAZIL - The Brazilian real has closed at a record low against the dollar after the country's central bank announced a surprise cut in interest rates.
Brazil's Fraga: Expects continued IMF, G7 support
BRAZIL - Brazilian central bank head Arminio Fraga said on Thursday he expects continued support from the International Monetary Fund and the Group of Seven industrialized nations, following a meeting with top Wall Street bankers.
Brazil party may give its backing to IMF plan
BRAZIL - Brazil's leftwing Workers' party, which is still leading opinion polls ahead of October's presidential elections, says it may back an accord with the International Monetary Fund in order to reassure investors.
Real rises after central bank resumes intervention
BRAZIL - The real rose after the Brazilian central bank said it is resuming its former policy of daily interventions in the foreign exchange market, dealers said.