Economia de Juros


BUSINESS WEEK: BRAZILIAN ECONOMY CHARGES AHEAD - ECONOMIA BRASILEIRA SEGUE EM FRENTE

A revista Business Week tenta interpretar como é possível conciliar o terremoto político com a empolgação nas bolsas e no mercado financeiro. A conclusão - meio perigosa - é que são as altas taxas de juros que continuam atraindo os recursos do exterior. A revista diz textualmente: "não se encontra um retorno assim para títulos do Governo em nenhum lugar do planeta".

Brazilian economy charges ahead

"It's almost like Brazil doesn't need a president for its economy to keep going," joked Rinaldo Pierrotti, a 74-year-old retired accountant who has seen his Brazilian stock holdings advance 10 percent in the last month alone. Investors ranging from small-time players like Pierrotti to big overseas funds are betting Brazil can withstand virtually any political earthquake.

Despite the turmoil, worldwide demand for Brazilian export products like soy and steel remains high, largely due to huge demand from China. And leftist President da Silva has consistently stuck to conservative policies despite a big drop in popularity that could threaten his re-election next year. "In other times, with the leader of Congress resigning and revelations of this nature, we would have seen a crisis," said Enrique Alvarez, head of Latin American research at New York-based IDEAGlobal. "But people are getting returns in Brazil they can't get anywhere else."

The benchmark interest rate stands at a towering 19.5 percent, which has prompted outcries from unions and some business interests that economic growth and the creation of new jobs are being stifled. But Brazil's economy is on track to grow 3.2 percent this year, and some government officials are predicting even stronger growth next year. ...

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