May 29, 2002 |
Brazil's economy slipped into recession in the first quarter as power rationing and high interest rates curbed energy output, construction, manufacturing and retail sales. Marking the first recession in Brazil since early 1999, the economy shrank 0.73% in the first three months from a year earlier and followed a 0.7% decline in the fourth quarter. The economy grew 4.3% in the first quarter of 2001.
April 24, 2002 |
After a decade of false starts, optimism is running high that Brazil's economy may finally take off this year and enable the nation to get closer to its ambition of becoming a major global economic power. But there's a political caveat: the rising popularity of a far-left candidate in this November's presidential election who has said he would reverse some of the economic reforms of the last eight years if elected.
August 4, 2001 |
The International Monetary Fund said Friday that it was prepared to accelerate a $1.2-billion loan to Argentina and establish a $15-billion line of emergency credit for Brazil in an effort to keep economic troubles in the two South American nations from spreading. IMF Managing Director Horst Koehler said he will recommend the actions.
May 28, 2001 |
As Brazilians rushed to snap up power-saving light bulbs, candles and generators before the Friday start of energy rationing, government lawyers staffed the legal barricades Sunday in an effort to protect the plan. Latin America's largest country and biggest economy is in the grips of an acute electricity crisis and, under the government rationing plan, must reduce power consumption an average of 20% or face forced blackouts later this year.
March 20, 2001 |
New political and energy worries weighing on Argentina and Brazil sent both countries' stock markets reeling Monday as fears of renewed economic instability reverberated around the hemisphere. The effect of the U.S. economic slowdown also is taking an increasing toll. Brazil's main stock index, the Bovespa, fell 401.13 points, or 2.6%, and Argentina's fell 8.58 points, or 1.
August 10, 2000 |
Brazil's second-quarter economic growth beat expectations as Latin America's biggest economy continued its recovery from two years of economic stagnation and a deep currency devaluation in 1999. Gross domestic product--which measures the total output of goods and services and is the broadest gauge of an economy's health--grew by 3.9% from the year-earlier period, fueled by strong industrial and agricultural output, Brazil's National Statistics Institute said.