from Global Investing:

Here comes the real

March 11, 2013

Inflation is finally biting Brazilian policymakers. The real strengthened around 1.5 percent last week without triggering the usual shrill outcries from government ministers. Nor did the central bank intervene in the currency market even though the real is the best performing emerging currency this year. The bank in fact shifted towards a more hawkish policy stance during its March meeting, a move that seems to have had the blessing of the government.

from Global Investing:

Emerging Policy-”Full stop” in Poland but a start in Mexico?

March 8, 2013

An action-packed week for emerging monetary policy.

First we had Poland stunning markets with a half-point rate cut when only 25 bps was priced. Governor Marek Belka said the double-cut marked a "full stop"  after several cuts.  Then came Brazil which kept rates on hold at 7.25 but turned hawkish after spending over 18 months in dovish mode. (Rates stayed on hold in Indonesia and Malaysia).

from The Great Debate:

With Chavez gone, what of ‘Chavismo’?

By Michael Shifter
March 7, 2013

“The End of the Chávez Era” That was the headline on Colombia’s major newspaper, El Tiempo, the day after Hugo Chávez’s death.

from Photographers' Blog:

Rio from above

March 5, 2013

Rio de Janeiro, Brazil

By Ricardo Moraes

Flying over Rio is always incredible. Seeing my city from the sky reveals its beauty from new angles.

from MacroScope:

Self-inflicted ‘sudden stop’? Brazil blocked by its own currency war trench

February 25, 2013

In times of currency wars, it's best not to shoot yourself in the foot. By imposing several capital controls in the past years, Brazil might have tightened monetary policy right when the economy started to falter, Nomura's strategist Tony Volpon wrote in a research note on Friday.

from Photographers' Blog:

Carnival, from film to Paneikon

February 21, 2013

Rio de Janeiro, Brazil

By Sergio Moraes

I remember it as if it were yesterday. I was a staff photographer at the Isto É news magazine when I was assigned for the first time to cover the Carnival parade of samba schools. The year was 1986, and I was 24.

from Photographers' Blog:

The tragic legacy of KISS

February 13, 2013

Santa Maria, Brazil

By Ricardo Moraes

It was an unforgettable end to enormous pain and a ravaged mind. The last day of coverage of one of Brazil’s greatest tragedies touched me so much that I’m only going to tell how the story ended.

from Photographers' Blog:

The KISS that ended in tragedy

February 13, 2013

Santa Maria, Brazil

By Edison Vara

It was early Sunday when my cell phone began ringing nonstop. Reuters called to inform me of a tragedy that was happening in the Kiss nightclub in the city of Santa Maria, with more than 70 known dead initially. That number would soon rise past 230. After more than 30 years as a photojournalist I was still jolted by the news, grabbed my equipment, and left for the site three hours away.

from MacroScope:

Brazil: Something’s got to give

February 7, 2013

How about living in a fast-growing economy with tame inflation, record-low interest rates, stable exchange rate and shrinking public debt. Sounds like paradise, doesn't it? But Brazil may be starting to realize that this is also impossible.

from Photographers' Blog:

A living culture in downtown Rio

January 22, 2013

Rio de Janiero, Brazil

By Pilar Olivares

On the first day I appeared as a stranger, to photograph them without knowing their history or their story. The second day I understood what was going on and was able to talk with them at length about what they were doing. The third day I sat and had coffee with them, laughed with them, and listened to them talk about their villages and how hard it is to be in the city.