Tag: Guido Mantega

• Saturday, August 27th 2011 - 07:04 UTC

  Brazil ‘unofficially’ lowers 2011 growth estimate to 3.7% from 4%

  

  The Brazilian government has unofficially cut its outlook for 2011 GDP growth given a slowing world economy and unsustainably fast expansion last year, a local newspaper reported on Friday.

• Wednesday, August 24th 2011 - 07:02 UTC

  Mantega admits global crisis in having an impact: lowers Brazil growth to 4%

  

  Brazilian Finance minister Guido Mantega admitted before the Senate that the global financial crisis is already having an impact in the local economy and this will be reflected in a lower GDP for the twelve months.

• Thursday, August 11th 2011 - 23:17 UTC

  Unasur planning an emergency fund to help contain capital flight attacks

  

  The Unions of South American Nations, Unasur, finance officials are considering creating a 10 to 20 billion dollars emergency fund to assist nations that experience capital flight should the global economic crisis deepen, according to financial sources.

• Tuesday, August 9th 2011 - 07:50 UTC

  The crisis in advanced countries “was never over, it’s chronic’ warns Brazilian minister

  

  Brazil’s Finance Minister Guido Mantega admitted Monday that if the international crisis in the EU and US markets persists, Brazil would have to lower its growth estimate.

• Saturday, August 6th 2011 - 08:21 UTC

  Unasur ready for potential balance of payments deficit caused by the North’s crisis

  

  The Union of South American nations (Unasur), meeting in Peru Friday the region is well-positioned to withstand a sharper global downturn but want to insulate their economies further from a crisis of confidence they blame on Europe and the United States.

• Friday, August 5th 2011 - 08:14 UTC

  Unasur Finance ministers meet in Peru to address the glut of US dollars

  

  Unasur Finance ministers struggling to stop economic harm from several years of US dollar decline will seek to agree on a coordinated response when they meet Friday in Lima.

• Wednesday, August 3rd 2011 - 00:31 UTC

  Brazil announces 16bn dollars plan to prop industry and weaken the Super Real

  

  A package of tax breaks and incentives unveiled Tuesday by Brazilian president Dilma Rousseff represent a good start to help local companies overcome competitive challenges presented by adverse local and global economic factors, but still fall short of what's needed, Brazilian industrial leaders said.

• Monday, August 1st 2011 - 06:21 UTC

  Brazil ready to announce 30bn dollars tax relief for industry

  

  Brazil is prepared for the event of a United States default if no agreement is reached in the US congress on the debt ceiling and will also implement a 30 billion dollars tax relief program to prop Brazilian industry competitiveness, announced Finance minister Guido Mantega.

• Wednesday, July 27th 2011 - 19:28 UTC

  Brazil intervenes the derivatives markets in a bid to weaken the Real

  

  Brazil imposed on Wednesday a tax on bets against the US dollar and warned it may boost intervention in the nation’s derivatives market in a bid to weaken a currency that reached a 12-year high this week. The Real declined by the most in almost three months at times loosing up to 2% to the US dollar.

• Wednesday, July 27th 2011 - 03:59 UTC

  “Dilma is completely able of running the country”, says Lula da Silva

  

  Brazilian former president Lula da Silva criticized rich countries for their roll on the current economic crisis that has been changing the world’s economic map and once again came out forcibly in support of President Dima Rousseff.