By Lisa Pauline Mattackal (Reuters) - Insufficient government spending cuts, rising global interest rates and tighter liquidity place Brazil in a risky ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWatch on - Insufficient government spending cuts, rising global interest rates and tighter liquidity place Brazil in a risky fiscal situation, a former governor of the central bank said on Tuesday.
"I think it would be imprudent to count on 'blue skies and good weather' going forward, sadly, we're not in a position to relax," Fraga told the Reuters Global Markets Forum . Brazil's central bank, meanwhile, cut interest rates in August by 50 basis points to 13.25%, and policymakers have signaled a similar pace of easing in subsequent meetings.
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Government spending, macro headwinds threaten Brazil's economy: ex-central bank chief FragaReform efforts including a new fiscal framework designed to limit escalating public debt and plans for tax reform are a welcome step in the right direction, but likely insufficient, said Arminio Fraga, who helmed Banco Central do Brasil (BCB) from 1999 to 2002. 'I think it would be imprudent to count on 'blue skies and good weather' going forward, sadly, we're not in a position to relax,' Fraga told the Reuters Global Markets Forum (GMF).
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Brazil's Natura mulls sale of The Body ShopSAO PAULO (Reuters) - Brazilian cosmetics maker Natura &Co said on Monday its board of directors had authorized the company to search for ...
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Massa’s Trip to Brazil Ends Without Deal on Exports to ArgentinaA trip by Argentina’s economy minister and presidential candidate Sergio Massa to Brasilia ended without agreement on a plan that Brazil had pitched to guarantee its exports to the neighboring country.
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