• Categories
  • Archives

Foreign Currency: Brazil Ended 2008 in the Red

Dollars pile The green influx of dollars in Brazil has decreased quite a bit. After five years back to back of foreign currency surpluses, more dollars left Brazil than entered last year. The deficit was US$ 983 million last year, according to figures disclosed January 7 by the Brazilian Central Bank (BC).

While the trade exchange, which totals all foreign trade figures, resulted in a surplus of US$ 47.9 billion in the accumulated result for the year, the financial account, which includes operations with capital and services, resulted in a deficit of US$ 48.883 billion.

Although 2008 was a year in which the trade balance result (exports minus imports) was much lower than in 2007, the financial movement of capitals for payment of interest and profit transfer abroad was greater than in the previous year.

Up to September last year, the foreign currency was favorable for Brazil, although at lower rates than in 2007, when the volume of foreign direct investment was registered and the country had a surplus of US$ 87.454 billion.

After the fourth largest investment bank in the United States, Lehman Brothers, filed for chapter 11 bankruptcy and the international crisis worsened, the flow of funds was changed, with foreign investors turning their funds here to covering losses abroad, mainly in the United States, the European Union and Japan.

Due to this, the last three months of the year generated great negative balances: US$ 4.639 billion in October, US$ 7.159 billion in November and US$ 6.373 billion in December.

ABr

Tags:

  • Show Comments (2)

  • Jonalist

    Strengthen Brazil’s Economy – (EVFCF)
    If your worried about economic solutions for the people in Brazil, then you need to establish a foundation, I cannot give you more than what I can explain about it for America but in Brazil there are possibilities which are far greater than in America mainly because there is less competition. I understand that economic solutions must come from within and that for Brazil to gain from all the resourceful work of its population there needs to be adequate participation and help from the government. Course in America I am finding it hard to achieve either or both of these solutions and will have to sight it further into the future unless there is adequate participation which I understand must exist to make it work, but it will work. It is a solution which does not demand from the population new vehicle purchases but it relies on technologies which are new and can be improved and developed even before initiating the challenge. I hope you understand what I wrote here, its what you needs to consider: http://jonalist.bravehost.com/articles/evfcf.html. I call it My Project Plan named, “The Electric Vehicle Free Conversion Foundation (EVFCF)”. Best of luck, let me know how successful this is to you when you can contact me. I am hoping for the best in America, we got some real time swindling businesses and corporates managing Union work as if they owned the automakers, they got that started when the UAW decided to fight against the automakers in order to build their own Union Worker Insurance Program, now the automakers are in debt to UAW to the tune of over $25 Billion and government is having to bailout automakers and there appears no end to this swindling activity they endorsed, yet government could force feed the Union Workers into accepting a State Medicaid Program instead and require wages to be shrunk. That is the problem, Union Workers will face a issue of non coverage when automakers eventually fail and the UAW will have no jobs for them and this could go on for a long while. Contacting my representatives in government did nothing productive, they are head strong on resistance to the idea and will not listen to more solutions, so they are filibustering and it is hurting the economy in America each day that States lose money which they could have in a Health care Program such as Medicaid without changing much except for private insurance and those Union Insurance Programs that are saturated with to much overhead and legal loop-holes government cannot penetrate to resolve even if the companies they obtain funds from go bankrupt.

  • ch.c.

    SO FULL OF LIES…AS USUAL !
    BRAZIL 2008 TRADE SURPLUS…. WAS NOT US$ 47,9 billion !

    Brazil’s Trade Surplus Falls 38%, the Worst in Five Years
    Written by Lisiane Wandscheer
    Tuesday, 06 January 2009
    It was the lowest result since 2003 for the Brazilian balance of trade this past year. Brazil ran a surplus (exports minus imports) of only US$ 24.735 billion in 2008. While exports reached US$ 197.942 billion imports totaled US$ 173.207 billion, according to information supplied by the Brazilian Ministry of Development, Industry and Foreign Trade.”

    How many times have I said…..cheaters always cheat, liars always lie, hiders always hide ?
    How many times have I said…..NEVER EVER TRUST A BRAZILIAN ??????

    WELL….proven one more time !

    On top of this, Brazil OWES US$ 30 Billion to the U.S. Fed, to be repaid in April, or renewed !

    That means that your CURRENT ACCOUNT is DEEP RED for 2008.
    I just remind you that by July 2008 your Current Account was already in DEFICIT TO THE TUNE OF US$ 32 billion….
    AND GREW UNTIL YEAR END !

    Hey…hey !
    πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰

    Your Disinformation & Propaganda Dept at the Presidential Palace, next to Robbing Hook Office, is really quite busy and working
    24/7 to disseminate….PURE LIES !!!!!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Who Killed Jean Charles? Brazil Wants London to Answer.

The director of the Foreign Ministry’s Department of Brazilian Communities Abroad, Manoel Gomes Pereira, ...

Brazilian presidential candidates Lula and Geraldo Alckmin

Lula’s Electoral Stumble Gives Brazilian Politics New Lease on Life

The first day of October 2006 will remain in Brazil’s political memory for a ...

Brazil’s Favela Sounds Promise Hot Season in London

Music from the favelas near the Queen’s home at Buckingham Palace? It may sound ...

Brazil Busts Gang Embezzling Education and Health Money

Brazil’s Federal Police kicked off, today, July 18, an operation called Fox (in English) ...

CardioTech Presents Brazilians Living with CardioPass Graft

Massachusetts-based CardioTech International Inc. announced that it will make a presentation at the 32nd ...

Brazil: Lula Takes Zero Hunger to UN

Brazilian President Luiz Inácio Lula da Silva will once again call for a world ...

US FAA Gives Brazil’s Phenom 100 Jet by Embraer Its Seal of Approval

Brazilian-made Embraer's Phenom 100 entry level executive jet was certified this Monday, December 15, ...

It’s Easier to Be a Dollar in Brazil These Days

The unification of the free (commercial) and fluctuating (tourist) exchange rates went into effect, ...

BEST: Brazil’s Big Push to Draw Overseas Investment

The Brazilian government and private sector have endeavored to disseminate and ameliorate the image ...

Brazilian and Arabs Exchange Views on Desertification and Water

Recife, the capital city of the northeaster Brazilian state of Pernambuco, is hosting a ...