Tag: Guido Mantega

• Tuesday, July 26th 2011 - 07:38 UTC

  Real soars to its highest in 12 years in spite of billions to support the US dollar

  

  Brazil's Real soared Monday to its highest level against the US dollar since 1999. The dollar was buying 1.53 Real at midday on financial markets, representing a 0.9% increase from Friday. The dollar closed somewhat higher at 1.54 Real but below the 1.55 of twelve years ago.

• Saturday, July 9th 2011 - 07:21 UTC

  Brazil introduces rules on short-dollar positions to curb speculation with the Real

  

  Brazil’s central bank changed currency market rules to curb bets that the Real will appreciate against the dollar, according to an e-mailed statement. Brazil will require that banks make non-interest bearing deposits with the central bank equivalent to 60% of their short dollar positions exceeding 1 billion US dollars, the bank said.

• Wednesday, July 6th 2011 - 15:56 UTC

  Brazil planning new intervention measures to curb its currency appreciation

  

  Brazil's government may intervene in futures markets to weaken the Real, Finance Minister Guido Mantega told reporters in London on the sidelines of a conference on Tuesday.

• Tuesday, June 21st 2011 - 03:16 UTC

  Petrobras told to control costs of its massive investment program

  

  Petrobras oil and gas corporation needs to control costs in its investment program, Brazil's Finance minister said on Monday, days after he and other board members told the company to revise an update of its 224 billion US dollars spending plan.

• Thursday, June 16th 2011 - 06:10 UTC

  Brazil’s default risk lower than the US, claims Minister Mantega

  

  Brazilian Finance Minister Guido Mantega said Wednesday that his country's default risk had become lower than that of the United States.

• Friday, June 3rd 2011 - 23:29 UTC

  Brazil expanded at an annualized 5% in first quarter, will grow “modestly” in 2Q

  

  Brazil's first quarter GDP grew 1.3% compared to the previous quarter – an annualized rate of over 5% – and 4.2% against the first quarter of 2010 revealed on Friday the Brazilian government.

• Tuesday, May 31st 2011 - 08:35 UTC

  Lagarde pledges in Brazil to give emerging economies more clout in the IMF

  

  French Finance Minister Christine Lagarde pledged to push reforms to give Brazil and other emerging economies more influence at the International Monetary Fund as she kicked off a worldwide tour to win support for her candidacy to lead the global lender.

• Saturday, May 28th 2011 - 07:32 UTC

  IMF-head hopefuls visit next week Brazil as part of their global campaign for support

  

  The two leading candidates for the position of IMF Managing director will be visiting Brazil next week. French Finance Minister Christine Lagarde plans to travel to Brasilia on Monday to seek support for her candidacy, the French embassy said Friday.

• Saturday, May 28th 2011 - 07:24 UTC

  Even if US tightens liquidity, hot money to emerging economies will continue

  

  Capital flows to emerging markets won’t significantly slow when the US Federal Reserve ends its bond-purchasing program known as quantitative easing, said Olivier Blanchard, chief economist at the IMF.

• Sunday, May 22nd 2011 - 23:06 UTC

  Brazil’s Real will depreciate when the US and Europe raise interest rates

  

  Dollar inflows into Brazil are returning to normal levels, and the Brazilian Real will start to depreciate once interest rates in the US and Europe start to rise, said Brazil Finance Minister Guido Mantega. He also anticipated tax reforms to boost Brazilian competitiveness.