• Categories
  • Archives

Brazil Is Mad: ‘We Pay the Bills. Why the High Premium Abroad?’

The Brazilian Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, said that Brazil is capable of getting its country risk premium down to below 400 points and even achieving the mark of 200 points.

“We pay our bills, we produce a surplus, we impose fiscal austerity, and we are growing. Why must we pay an excessive premium abroad?”


Furlan emphasized today after participating in the inauguration of the 1st Federal Coordination Seminar on Export Promotion, in the Planalto Palace, in Brasí­lia.


The seminar was organized by the Secretariat of Political Coordination and Institutional Matters and is intended to intensify the dialogue between the federal and state governments to improve the qualify of export incentive programs.


The Minister informed that the government should “probably” announce measures to lighten the burden on exports by the end of this year.


Risk Brazil


Just last month the President of Brazil’s Central Bank (BC), Henrique Meirelles, was cited as saying that lowering the Brazil risk index (which measures foreign investors’ confidence) will lead the country to a process of investment and production and permit a drop in interest rates.


“The correct and persistent application of sound economic policies will permit a substantial decline in the Brazil risk index, allowing in due time a sustained and responsible reduction of the interest rate, as everyone desires,” Meirelles said, recalling that the government’s chief concern in its handling of economic policy is the social question.


According to the President of the BC, the investment process is incomplete without a strong social component.


After all, he said, the final goal of any economic policy deserving of the name is a significant improvement in the living conditions of the population.


“Lula’s Administration is demonstrating, in practice, that there cannot be a contradiction between social action and responsible macroeconomic administration,” Meirelles added.


Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published.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

Stage Struck II

By Brazzil Magazine Continued from our last issue MILESTONES OF BRAZILIAN THEATER IN THE ...

Brazil Closes Week With Record High Stocks

Latin American markets benefited from lower oil prices and continued enthusiasm for Brazil’s economic ...

Maria Rubinstein & her Brazil-California Chamber or Commerce

She seems to have it made now. But for Maria Rubinstein, founder of the ...

The Ball Is Now on Honduras’s Court, Says Brazil

The Brazilian government does not have diplomatic relations with Honduras because of the coup ...

Brazilian Military Was Building A-Bomb Disobeying Constitution and President

An atomic bomb as powerful as those dropped in Hiroshima and Nagasaki, was almost ...

Brazil and South America Split over US-Colombia Military Cooperation

Brazil and neighbors finally issued this past Friday, a statement warning "foreign military forces" ...

Brazilian Market Srongly Rebounds

Latin American markets rallied, following weakness throughout the first three sessions of the week. ...

Brazil and Argentina Create Nuclear Miniclub to Enrich Uranium

Brazil and Argentina intend to establish a binational company for uranium enrichment. The negotiations ...

Brazil Counting on Another Banner Year in Agriculture in 2008

Prices of soy and corn, the two types of grain that Brazil produces the ...

Brazil Gets 5000 Requests for Asylum. Half of Them Are Denied.

The number of refugee status requests to Brazil is increasing and some of the ...