Tag: Guido Mantega
Guido MantegaBrazil announces measures to boost sales of vehicles and stimulate growth
Brazil lowered taxes on consumer borrowing and created incentives for banks to boost vehicle lending as policy makers struggle to revive economic growth in the Latin America’s largest market.
President Rousseff happy and supportive of the 2 dollars Real
The Brazilian Real dropped past 2 per dollars for a second day as President Dilma Rousseff said it has been “extremely overvalued,” encouraging speculation the currency of Latin America’s biggest economy may fall further.
Brazil’s Real falls to 2 per dollar, lowest since 2009; government overwhelmed
Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.
Brazilian strategy to lower value of its currency seems to be working
Investors pulled 1 billion dollars out of Brazil last week as Euro-zone debt fears continue to spook markets and the Brazilian government shows little sign of changing its hefty intervention policies.
Brazil applies radical changes to deposits policy to further cut basic interest rates
Brazil will cut returns on new deposits to savings accounts, thereby paving the way for the central bank to further cut its benchmark lending rate, Finance Minister Guido Mantega announced.
Emerging powers committed to IMF but insist on less European predominance
Major emerging powers stood ready on Friday to pledge money to bolster the International Monetary Fund's crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase.
Brazil will continue to intervene in support of industry and depressing its currency
Brazilian Finance minister Guido Mantega said on Friday that IMF Managing Director Christine Lagarde makes a mistake in recommending emerging countries not to intervene in the money exchange markets to counter the strong devaluation of currencies from the rich countries.
Brazil announces 35bn dollars stimulus measures to prop industry
Brazil announced on Tuesday tax cuts and other stimulus measures worth about 65 billion Reais (35 billion dollars) to protect the country’s struggling industry from what she said were “predatory” trade practices by rich nations.
Brazil extends tax cuts on appliances but manufacturers must not lay-off workers
Brazil announced extended tax cuts on appliances such as refrigerators and washing machines, and reduced levies on other goods, as it seeks to help manufacturers hurt by a slowdown in economic growth and a surge in imports.
Rousseff administration will promote “buy Brazilian” policy to defend industry
“As of this year Brazil will follow the US example giving a 25% margin of preference to local goods in government procurement”, said Fernando Pimentel, Minister for Development, Industry and Foreign Trade.
