The country has regained the confidence of investors
and but Brazil still faces considerable challenges that the markets
have ignored for too long.
Brazil’s trade and industry minister has been in the
job barely a year and already has something to show for his time in
government. But Luiz Furlan still has much to do before the country
emerges as a major trading nation.
Brazil’s President Luiz Inácio Lula da Silva has
achieved a lot in his first year in office. His reform agenda next
year promises to be as challenging as it has been in
Money is moving into Latin American technology
ventures in Brazil. But entrepreneurs and their backers still face
Brazil’s Banco Bradesco locked in its lowest rate ever
in a subordinated debt issue. More banks are lining up to follow
Bradesco into a market hungry for Brazilian risk.
China has become one of Brazil’s biggest trading
partners, driven by its voracious demand for commodities. Bankers
Under the command of Roberto Setúbal, Brazil's Banco Itaú has moved into a league of its own. Itaú is the most profitable and most valuable bank in Latin America.
LatinFinance's inaugural Brazil Conference, held in
September in Rio de Janeiro, attracted a star-studded cast of
speakers from academia, the private sector and the federal
A $1.33 billion debt exchange retired Brazil's expensive Brady bonds. But the deal miffed some investors who thought they would be able to cash in their benchmark C-bonds.
Brazil's telecom operators both big and small have clashed with regulators as the post-privatization landscape continues to evolve.
Brazil has wallowed in an economic malaise for nearly 20 years. Lula's economic team must deliver a high-voltage
shock to turn things around.
Wildly expensive credit persists in Brazil. The country's banks need to lower their costs to narrow spreads and expand vitally needed lending.
Brazil has tightened control over financial transactions with a series of regulations that apply to a range of activities and market participants.
President Luiz Inácio Lula da Silva has steered Brazil away from the brink of collapse. But jobs remain scarce, poverty is pervasive and investors are few.
Ensuring that Brazilians have an adequate supply of electricity is one of the government's major challenges. But outside investment remains limited.
Brazilian banks have performed remarkably well because of their competent management. But the credit market remains vastly undertapped because of the high cost of finance in Brazil.
Rebuilidng Brazil's capital markets requires a good dose of public confidence. But that can only be achieved with a stable economy, plus more modest inflation and interest rates.
Banco do Brasil, the state-owned bank, is in top form and higly profitable. Now, under new management, Brazil's biggest bank needs to convince the markets that it still means business.
After seeing many of the international banks quit Brazil, locally owned banks are firmly back in command of South America's biggest financial services market.
Sep 10 - 11, 2015 | The Westin Beijing Chaoyang, Beijing, China
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Will a strong dollar deter investors from LatAm bonds?
No, the yield-hunt goes on
Yes, but only retail investors
Yes, once the Fed raises rates
It is difficult to say whether [Brazil] will manage to go through a stage of 'blood, sweat and tears' after so many years of 'sex, drugs and rock and roll'.
Luis Stuhlberger, Verde Asset Management
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