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Brazil’s Foreign Reserves on the Verge of US$ 200 Billion

Brazilian reserves International reserves in Brazil are close to hitting the historic mark of US$ 200 billion, despite having recorded a decrease from US$ 199.649 billion, last Friday, June 6, to US$ 198.673 billion, this Monday, June 9.

The figures were disclosed by the Brazilian Central Bank on a daily basis.

In the first business day of the year, January 2, international reserves stood at US$ 181.378 billion. Reserves are described by the Central Bank as a mechanism for the country to resist foreign shock.

Economy Growth

The Brazilian Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, posted growth of 5.8% in the first quarter this year, compared with the same period in 2007.

The GDP grew 0.7% in comparison with the previous quarter. In real values, the GDP reached 665.5 billion Brazilian reais (US$ 409.1 billion).

The figures were disclosed earlier today by the Brazilian Institute of Geography and Statistics (IBGE), which highlighted the expansion of industry, at 1.6%, and of the services sector, at 1%. On the other hand, the institute recorded a decrease in the agricultural sector (-3.5%).

ABr

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  • Show Comments (4)

  • ch.c.

    “I have a new plan for the economic development of Brazil”
    Hmmmm…therefore Chinese were right NOT to invest in Brazil these $ 200 billions.
    If you change your LONNG TERM PLANS…TWICE A YEAR :
    – they are not long term plans
    – and very costly……since the first few investments…..would have gone sour…..in view of your yet better NEW long term plan.

    If one remembers how many times I wrote :
    The longest term view of a Brazilian is 2 to 3 years, I was too nice. Now it looks like every 6 months or so.

    Failure guaranteed !

    And 4) stupid questions to the stupid Ricardo :

    – Why should Chinese invest $ 200 billions in Brazil, and Brazil invest NOTHING in China ?
    – Or why should Brazil look for 200 billion of foreign investments…..when they have these 200 billion in their purse ?
    – Would that NOT means Brazil has NO FAITH….in investing ITS OWN MONEY….IN ITS OWN COUNTRY….and prefers that other do….so that Brazil will be able to keep these $ 200 billion….in foreign currencies ????? OF COURSE…..IDIOT RICARDO !!!!!!
    – Why the World best central bank and President (brazilians) caress their naqel navel by having bought these tons of US$…and now are sitting with HUGE LOSSES ???? It is like saying an investor would have been very smart to start buying sugar at 20 cents/ pound…buying, buying and buying more every day….until the price reaches 10 cents/pound !!!!!Where the difference…..Professor Ricardo ??????????
    – And if Professor Ricardo is so great, how could he explain that if he had US$ 2 in his banks, generating 2 % per year, that a smart thing is to borrow $ 2…and paying far more interests than the one he receive ????? HMMMMMM….doesnt smell right….in the Brains of WE the Swiss Idiots ! We are so idiots—–that we DONT BORROW in foreign currencies ! why should we if we have the counterparty, just as you do ?

    I can only suppose we are weathy AND DEVELOPED….. because we are more idiot than Bin the Crook, Meireles the loser, and SP University SP Ricardo !!!!!!!!! Right ??????

    You are Good at futbol…..and great in sending you AUTOGOALS……IN ECONOMICS AND COMMON SENSE !!!!!!

    BUT…BUT…….nothing has changed over the last 50 years ! Just re-read Brazilians statements, promises, navel caressings, great ideas at ALL your previous economic booms…..just ending in BUST !

    No one need great ideas…….just common sense !

    As we the Swisses have no underground wealth……..we stimulated more our brains.

    And guess what ?

    IT WORKED, IT WORKS AND WILL WORK for eternity.

    πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰

  • João da Silva

    Ricardo Amaral
    Hi Ricardo,

    [quote]My next article is almost ready for publication, I am writing the last part of the article right now.

    I have a new plan for the economic development of Brazil, and this time there will be no excuse for the Brazilian government to not follow my plan.[/quote]

    Good news and I look forward to reading it and commenting. I hope the constructive criticisms given my many bloggers including mine in your last article have been taken into consideration. Also worth reading the articles of another Brazilian Augusto Zimmermann. Which site do you intend publishing it, https://www.brazzil.com or http://www.brazzilmag.com?

    Regarding your comments on U.S. economy, I do not have much to say except that the Americans are sure that George Bush is leaving after finishing his second mandadte. I am not sure if we can say that about our Prez!!

    All the best.

  • Ricardo Amaral

    Reply to Joao da Silva
    Hi Joao,

    My next article is almost ready for publication, I am writing the last part of the article right now.

    I have a new plan for the economic development of Brazil, and this time there will be no excuse for the Brazilian government to not follow my plan.

    This plan it will be a better version of my last plan including the source of financing and so on…

    I gave up on the United States since I realized that there is no future for this country. Both candidates for the next US presidential election stink as far as I am concerned.

    The United States is in a major mess that it would require a superman of a president such as Al Gore to turn this massive mess around.

    Instead of Al Gore, basically we have no choice coming the next presidential election in the US – the two candidates representing the 2 major parties have absolutely no experience in running anything.The only thing that these guys are going to run is the United States to the ground even further than George W. Bush did in the last 8 years.

    The choice of these two candidates shows to the world that most Americans are in La La Land.

    From now on I am going to focus my full attention to Brazil, since the US looks more like the Titanic than ever before.

    .

  • João da Silva

    Brazil’s Foreign Reserves on the Verge of US$ 200 Billion
    Great News. Now we have enough money to implement Ricardo AmaralΓ€β€šΒ΄s plan , without counting on the Chinese money. Think about it.

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