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.
When Brazilian President Dilma Rousseff’s coalition leader in the Senate helped defeat her nominee for a top regulatory post last month, her response was swift: she fired Romero Juca after 12 years on the job.
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.
Brazilian President Dilma Rousseff ’s efforts to distance herself from her predecessor give President Barack Obama an opportunity to deepen ties with Latin’s America’s biggest economy in a visit that starts today.