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Nov 21, 2014

Banker to be named Brazil finance minister, papers say

BRASILIA (Reuters) – Brazilian President Dilma Rousseff will name respected banker Joaquim Levy as her new finance minister, two leading newspapers reported on Friday, signaling a shift toward more market-friendly policies that could breathe life into a stagnant economy.

Levy’s appointment was reported by Folha de S.Paulo and Estado de S.Paulo, who cited unnamed sources. Reuters was not immediately able to confirm the decision, and a statement from Rousseff’s office said the names of new ministers would not be announced on Friday.

Nov 20, 2014

Top banker won’t be Brazil’s finance minister – official

BRASILIA/SAO PAULO (Reuters) – The chief executive of Brazilian bank Bradesco SA will not be the country’s next finance minister, a government official said on Thursday, after two local newspapers reported he turned down the job in a major setback for recently re-elected President Dilma Rousseff.

Luiz Carlos Trabuco is out of the running for the post, the official said on condition of anonymity. The official declined to confirm or deny that Trabuco had been offered the job.

Nov 20, 2014

Bradesco CEO emerges as top pick for Brazil finance job

BRASILIA (Reuters) – Luiz Carlos Trabuco, the head of Brazil’s second largest private bank Bradesco SA, has emerged as President Dilma Rousseff’s first choice for finance minister as she tries to rebuild the trust of investors to revive a stagnant economy.

Trabuco has a good reputation in Brazil’s business world and his nomination would signal that Rousseff might back away from some of the leftist policies that many investors blame for pushing Brazil into recession this year.

Nov 18, 2014

Brazil central bank may adjust monetary policy -director

FLORIANOPOLIS, Brazil, Nov 18 (Reuters) – Brazil’s central
bank could adjust monetary policy to fight high inflation,
director Carlos Hamilton Araujo said on Tuesday, leading
investors to bet interest rates might rise more sharply in the
next few months.

Araujo, the central bank’s director of economic policy, said
policymakers will not be complacent about inflation, although he
admitted the economy has been growing below potential.

Nov 17, 2014

Brazil to allow cooperative banks to issue local debt notes

FLORIANOPOLIS, Brazil, Nov 17 (Reuters) – Brazil’s main
economic policy body will allow cooperative banks to sell local
debt notes in a move to strengthen alternative financing in a
country where borrowing costs are among the world’s highest.

By selling so-called letras financeiras, or real-denominated
debt notes that are currently sold by commercial banks,
cooperative banks will have access to a stable funding for the
long term, Anthero Meirelles, the central bank’s director for
supervision, said at an event in the southern city of
Florianopolis.

Nov 12, 2014

Brazil’s Rousseff considers ex-Wall Street banker to right economy

BRASILIA, Nov 12 (Reuters) – Former Wall Street banker
Henrique Meirelles is a frontrunner to be Brazil’s next finance
minister, sources close to the government told Reuters, in what
would mark a major shift toward business-friendly policies in
President Dilma Rousseff’s second term.

Meirelles, 69, is widely respected in financial markets and
was a main architect of the leftist ruling party’s pragmatic
policies when he led the central bank from 2003 to 2010, a
period that twinned robust economic growth with low inflation
and strong anti-poverty programs.

Nov 7, 2014

Brazil rules out stimulus, focused on fiscal challenges-source

BRASILIA, Nov 7 (Reuters) – The Brazilian government is not
considering new measures to help struggling industries and is
instead focused on shoring up its finances to recover the trust
of investors next year, a senior government official told
Reuters on Friday.

Newly re-elected President Dilma Rousseff has vowed more
fiscal rigor and less tolerance with inflation to rebuild ties
with investors damaged by bouts of intervention and selective
stimulus to some sectors of the economy.

Nov 6, 2014

Brazil central bank signals more interest rate hikes

BRASILIA, Nov 6 (Reuters) – Brazil’s central bank has
signaled it could keep raising interest rates as board members
agreed inflation risks were rising despite fears that the
economy could remain stagnant.

In the minutes of its last rate-setting meeting released on
Thursday, the central bank said it would remain especially
vigilant in the battle against persistently high inflation.

Nov 5, 2014

Brazil Senate votes to cut state, civic debt, easing budget rigor

BRASILIA (Reuters) – The Brazilian Senate approved a bill on Wednesday that lowers the debt burden of states and municipalities, opening the way for regional governments to spend more at a time of growing concern about the country’s fiscal health.

The bill, which was supported by government lawmakers as well as the opposition, will add pressure on newly re-elected President Dilma Rousseff, who has promised to rein in public spending, slow inflation and limit the country’s rising debt burden to regain the trust of investors.

Nov 5, 2014

Brazil’s BNDES may cut lending without more gov’t capital-source

BRASILIA, Nov 5 (Reuters) – Brazil state development bank
BNDES may be forced to scale back loans in coming months if the
government fails to inject up to 30 billion reais ($12 billion)
into the lender as early as this year, a senior bank official
with knowledge of the matter said on Wednesday.

BNDES, which is Brazil’s main source of corporate financing,
is discussing terms of a potential capital injection with the
government, the official said. Another source with knowledge of
the government’s thinking told Reuters last week that part of
the money could be released before year-end.

    • About Alonso

      "Alonso has worked for more than a year covering commodities in the world's top copper producer Chile. A native of Nicaragua he has workers for Thomson Reuters for nearly five years with several stints in other Latin American countries. He is a University of Missouri-Columbia graduate."
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