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Montevideo, May 17th 2022 - 11:32 UTC
Brazil President Dilma Rousseff cited the nation's foreign currency reserves as a backstop to excessive volatility and weakness in the Brazilian Real. Read full article
Brazil has enough reserves to pay down its foreign and domestic debt.
And these reserves are growing every day.
Last week the Central Bank revised downwards its 2015 forecasts for Brazil predicting that the economy will contract by 2.7% and inflation will rise to 9.5%. percent.
And soon brasso will have no electricity too...
You need to read more Brasshole. http://seekingalpha.com/article/3535246-for-one-day-in-brazil-market-buys-what-already-failed
Reserves are not so flash as made out.....
Jawboning will work once or twice then normality will resume, i.e. a plunging Real
And Rousseff thinks she's smart repeating Tombini - she is dumber than a brick wall
I repeat and affirm: the current account deficit this year 2015 will be 40 billion dollars that will be fully covered by FDI and still be left to accumulate 35 billion in international reserves. In 2015!
In 2016 the accumulation of dollars in international reserves will exceed 80 billion.
Brazil has to take the opportunity and get rid of all the dollar reserves and settle your debt. The dollar is a sinking ship!
Have you already suggested this fantastic idea to Dilma, Tombini and Levy ?
The only sinking ship I see is one called Brazil. What never ceases to surprise me is your obtuseness in economic matters......and all others, for that matter.
”central bank chief Alexandre Tombini said that reserves were an “insurance policy that may and should be used”.
But Trombony ought to have used the word WOULD not should if he wanted to impress the big players.
How true for the Brazil Nuts!
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