Brazil
Mercosur sets macroeconomic convergence targets
The Southern Cone Common Market, or Mercosur, on Wednesday announced macroeconomic convergence targets, including fiscal and inflationary goals, top officials said.
BCB Fraga on the list of presidential candidates
Right-wing coalition PFL party president Jorge Bornhausen named Banco Central do Brasil chairman Arminio Fraga as a candidate for the 2002 presidential elections who could achieve unanimity between the government coalition.
Brazil cbank chief loses cool in Congress hearing
Brazil's master of monetary policy, central bank chief Arminio Fraga, lost his calm demeanor for once on Tuesday in a rare outburst, slamming a left-wing lawmaker who accused the bank of not doing enough to cut interest rates.
Uruguay to see 2% growth in 2001
Uruguay's economy minister said Tuesday he expects the small South American economy to shake two years of recession and economic stagnation and grow by 2% in 2001.
Brazil delays prospectus for Bepi and BEM
After the headache caused by the problems with economic and financial evaluations, the central bank decided to wait and postponed publication of the prospectuses to contract the company that will put together the sale model and perform the financial and…
Brazil: new central bank should follow UK model
The plan for the "new" Central Bank of Brazil, elaborated by the government, is ready and will be sent to Congress at the beginning of 2001.
Fraga says Brazil inflation on target in 2001
Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.
Oil, minimum wage hike led to Brazilian rate hold
Despite a slowdown in inflation in recent months, concerns about the impact of a hike in the minimum salary and volatile oil prices led Brazil's central bank to keep its key interbank interest rate steady, according to minutes of last week's monetary…
Fraga welcomes BSCH bid for Banespa bank
Spain's Banco Santander Central Hispano was the surprise high bidder for Banespa yesterday, claiming Brazil's state bank for an unexpectedly high US$3.6bn. Arminio Fraga, Brazil's central bank president, welcomed the bid.
Brazil's cenbank intervenes in FX markets
Brazil's central bank intervened in the foreign exchange markets today, saying that it does not want the real to strengthen too much against the dollar as it could be detrimental to Brazil's trade balance.
Brazil's Fraga confident in Argentina's recovery
Brazil's central bank chief Arminio Fraga said Thursday he is confident that neighboring Argentina will leave its economic woes behind although there will be no "instant miracle."