Stability Dividend

Stability Dividend

Brazil

As Brazil enters the final campaign phase of the 2006 elections, it is increasingly evident how the young democracy has matured. The turbulence and volatility that marked the 2002 elections have been absent this time around as investors feel that regardless of the outcome, Brazil will remain fiscally responsible, market friendly and keep inflation in check. "Neither candidate is a concern for the market and we're likely to see relative calm up to the elections," says Roberto Padovoni, an economist with Tendências Consulting in São Paulo. Brazil has made important advances under president Luiz Inácio Lula da Silva, allowing him to enter the election season with a scenario few

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