Brazil should refrain from raising interest rates if President Dilma Rousseff hopes to win a “tug of war” with banks and spur faster growth, the architect of the country’s economic miracle in the early 1970s said.
The International Monetary Fund’s historic rebuke of Argentina is likely to cement its outcast status among global investors while failing to persuade the government to boost the credibility of its economic data.
Luciano Coutinho oversaw a surge in lending as president of Brazil’s development bank that increased the country’s debt during the global financial crisis. Now he may need to help Dilma Rousseff restrain government spending when she becomes president.
President Barack Obama said he wants the U.S. to become one of Brazil’s “best customers” when recent oil discoveries come online and pledged to work with his counterpart, Dilma Rousseff , to deepen trade ties with Latin America’s biggest economy.