How to Bury an Economy in Coma

For those who read Portuguese, a great article from Veja columnist Geraldo Samor came out this morning. He explains how three speeches over the last couple of days completely undermine any hope for the the Brazilian economy in 2016. Starting with Central Bank’s governor Alexandre Tombini, who in the day before the COPOM meeting announced that the recently released IMF growth forecast would be taken into account in raising or not the interest rates. In a meeting with journalists, Former President Lula said that the government should take the lead again and put money where businesses are not going in order to revive the economy (and heavily downplayed the burden of inflation….). Last but not least, Finance Minister Nelson Barbosa, in response to Bradesco’s CEO talk in Davos, said that the economy needs more stimulus and he will “take the horse to the river to see if wants to drink the water”.

Source: Como enterrar (viva) uma economia em coma

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Emerging Markets Insights

a blog by Frontier Strategy Group

longandvariable

A blog on macroeconomics and public policy by Tony Yates.

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