Tag: Guido Mantega

• Friday, May 4th 2012 - 17:26 UTC

  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.

• Saturday, April 21st 2012 - 07:07 UTC

  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.

• Saturday, April 21st 2012 - 03:51 UTC

  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.

• Wednesday, April 4th 2012 - 01:37 UTC

  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.

• Tuesday, March 27th 2012 - 12:52 UTC

  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.

• Tuesday, March 20th 2012 - 01:24 UTC

  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.

• Tuesday, March 13th 2012 - 07:26 UTC

  Brazil extends 6% tax on foreign loans and bonds to help weaken the Real

  

  Brazil extended on Monday a 6% tax on foreign loans and bonds issued abroad by local companies to include lending with duration of as long as five years, the third measure taken this month to weaken the Real. Since March 1, the currency has weakened 5.6%.

• Saturday, March 10th 2012 - 04:52 UTC

  Brazilian fiscal benefits for industry to prop the economy and help competition

  

  The Brazilian government that this week promised an ‘arsenal’ of measures to counter the effects of the international crisis and prop the economy will reduce the tax burden for several industries, revealed a Sao Paulo newspaper close to the current administration.

• Thursday, March 8th 2012 - 09:42 UTC

  Brazil has become the sixth-largest economy in the world overtaking the UK

  

  Brazil has become the sixth-biggest economy in the world, the country's finance minister announced. The National Institute of Economic and Social Research (NIESR) and other economic forecasters also said that Brazil had now overtaken the UK.

• Tuesday, March 6th 2012 - 17:06 UTC

  Brazil growth in 2011, slowest since 2003, but 2 million jobs were created

  

  The Brazilian economy last year registered its second-worst performance since 2003 as higher borrowing costs and a currency that rallied to a 12-year high led it to under-perform emerging-market peers China and India.