US Treasury Secretary Has Only Praise for Brazil

The United States Secretary of the Treasury, John Snow, affirmed Monday, August 1st, that foreign investors are not afraid that the political situation in Brazil will contaminate the country’s economy.

Snow, whose post corresponds to that of Finance Minister in Brazil, believes that risk capital investors have a “positive outlook” regarding the performance of the economy.


“They recognized that, as a result of good policies, the economy is overcoming this political problem very well, whatever the crisis might be. Their attitude is positive.


“I really perceived that there exists a vote of confidence on the part of risk capital investors in terms of the direction of the Brazilian economy,” he told reporters in a press conference at the American Embassy in Brasí­lia.


According to Snow, keeping inflation under control, relying on an “adequate and solid” macroeconomic policy, controlling the deficit, and lowering the ratio of debt to the Gross Domestic Product (GDP) enhance foreign investor confidence in Brazil.


Snow began his agenda of visits in Brazil, Monday, in the federal capital. He met early in the afternoon with the Minister of Finance, Antônio Palocci, and the president of the Central Bank, Henrique Meirelles. In the evening he met with President Lula.


When asked about Brazil’s interest rate policy, the Secretary said that “despite interest rates that are admittedly so high,” he believes that the prospects for the Brazilian economy are “really very good.”


“Meirelles knows a lot about interest rates. He certainly knows a lot. He’s a specialist, an expert on interest rates,” he affirmed.


For Snow, it is important for the country to ensure economic growth and job creation, an opinion shared by the Brazilian Minister of Finance and Meirelles, according to him.


“We understand that the Brazilian economy is creating many jobs, month after month. And both Palocci and Meirelles believe that the prospects are for growth, indeed, stronger growth after the first quarter,” he said.


Agência Brasil

Tags:

Ads

You May Also Like

Petrobras to Invest US$ 18 Billion in Brazil’s Santos Basin

Brazilian state owned oil company Petrobras announced today that it will invest during the ...

New Presidential Poll Shows Marina Silva Ahead Where It Counts: The Second Round

A new survey released by the Brazilian Institute of Public Opinion and Statistics (Ibope) ...

Brazil Demands End to Farm Subsidies at G-3, G-4 and G-6 in London

Brazil’s Minister of Foreign Relations, Celso Amorim, has spoken at the London School of ...

Brazil, One of the Top Holders of the United States Debt

Foreign countries, among them Brazil, China and Japan,  hold 4.5 trillion dollars of US ...

It’s War

The violence contained in fictitious budgets, like those of so many of the social ...

Brazil Summit to Discuss Bolivia’s Full Membership in Mercosur

Diplomats of the Gulf Cooperation Council (GCC) arrive today in Rio de Janeiro to ...

Brazil Expects Foreign Investments to Fall US$ 10 Billion in 2009

Brazil's estimated trade surplus (positive balance of exports less imports) for 2008 has been ...

Despite PR Job, Only 29% of Brazilians Approve of Lula Administration

For the first time in the series of quarterly Brazilian Institute of Public Opinion ...

Brazil-US: Will Obama Mention the “BRICs” or just the “RICs”?

When President Barack Obama assumes office on January 20 can we expect to hear ...

Brazil’s Tourism Black and Blues

When African Americans talk about traveling to Brazil, two types of tourism tend to ...