End of an Era?

End of an Era?

Brazil Economy & Policy Corporate & Sovereign Strategy

by Vincent Bevins It would be an understatement to say that Brazil has had a good decade. High prices for its commodities, stable governance and the unleashing of long-dormant potential have led to some of the best economic indicators in living memory. The country grew at 7.5% last year, incomes are rising even more quickly, and unemployment is at an historic low. President “Lula†da Silva finished his term last year with some of the highest approval ratings in the world, and his hand-picked successor, Dilma Rousseff, cruised easily to victory. It would be very optimistic to expect any government to undertake deep structural reforms in such a situation. If it isn’t broken,

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