Brazilian central bank opposes using the country's US$ 370bn reserves

Monday, November 2nd 2015 - 08:43 UTC

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Brazil's central bank chief, Alexandre Tombini, told lawmakers he opposes using the country's $370 billion foreign reserves at this moment as they serve as an insurance policy for Latin America's largest economy. Read full article

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ChrisR
Trombony has actually said something sensible for a change!

Why throw good money (U$D) after crap (the Real)?

The real answer is to have new elections, cut the bollocks off the unions, drop the ridiculous interest rate which shackles business expansion and confiscate ALL Lula's money, he's a crook.

That, together with the austerity measures implemented in full would make a start.

It will never happen though!

Brazil looks fucked to me.
Nov 02nd, 2015 - 06:47 pm - Link - Report abuse 0
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Jack Bauer
FHC, Brazil's president from 1995 to 2002, said in an interview last week, that the way the crisis was developing, the best solution for the country would be for Dilma to step down after coming to an agreement with Congress to push the through the legislation necessary for Brazil to have a chance at recovery. Knowing Dilma and the PT, this will not happen, as they would prefer to see Brazil drown in shit before giving up power....
Nov 03rd, 2015 - 05:38 pm - Link - Report abuse 0
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