Luiz Fernando Figueiredo knows first hand what a Brazilian crisis looks like. Back in 2002, when a financial panic swept the country and pushed the government to the brink of default, Figueiredo had an up-close view of the chaos as a director at the central bank.
Today’s economic and fiscal woes, he said, have none of that full-blown crisis feel to him. Unlike in 2002, the government has plenty of money now — both in terms of near-record foreign reserves held by the central bank and cash stockpiled by the Treasury — to comfortably keep honoring its debts, said Figueiredo, who founded investment firm Maua Sekular Investimentos after leaving the central bank. Brazilian assets, including the currency and inflation-linked bonds, are cheap at today’s beaten-down prices, he said.
Brazil Energy Insight 
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