The cut in Petrobras's investment plan for the period 2015 to 2019 will be close to 40%, with the new budget around $ 130 billion, says real time service agency Broadcast. Last year, when the company was still chaired by Graça Foster, the investment goal was $ 220.4 billion in five years. But, given the... Continue Reading →
Odebrecht Bond Holders Suffer with Arrest
Just when bond investors were getting comfortable with the idea that most of the fallout from Brazil’s largest bribery probe was behind them, new arrests are sending a painful reminder that it isn’t over yet. Bonds issued by Odebrecht SA plunged on Friday after Chief Executive Officer Marcelo Odebrecht was detained by police investigating allegations... Continue Reading →
Odebrecht Arrest Might Cause Banks to Increase Provisions
Brazilian banks will need to increase provisions set aside for losses on loans to Odebrecht SA after its chief executive officer was arrested Friday, people familiar with Brazil accounting requirements said. Read More
Odebrecht Bonds Hit by Arrest
Multi-point price drops in bonds issued by Odebrecht dominated LatAm credit markets' attention on Friday following news that the Brazilian construction firm's CEO had been arrested. Read More
Rise of Debt Collection Companies – Another Sign of Brazil’s Downturn
Investors know times are tough in Brazil when debt-collection companies are among the best investments. It’s not hard to see why it might be a good time to invest in debt collection. Economists say Latin America’s largest economy is heading for its deepest recession in 25 years, and households are more indebted than ever before.... Continue Reading →
Brazil’s Federal Development Bank – BNDES, has been subsidizing loans to companies involved in the Petrobras scandal
Luciano Coutinho, president of the Brazil National Development Bank (BNDES), Photographer: Pete Marovich/Bloomberg The bank’s financial ties to Brazil’s big companies, many of which are often top campaign donors, is pitting President Dilma Rousseff against the nation’s highest court. Brazil’s Supreme Court is calling for more transparency even as Rousseff vetoed a proposal to end... Continue Reading →
Brazil Turns to Infrastructure Investments to Stimulate Economy and Attract Foreign Investors
The favorable exchange rate and less government intervention might , just might, attract the private investors, both local and foreign. Read More
Brazil Economy gains some credibility on budget policy
Brazil's Finance Minister Joaquim Levy has been filling in the shoes of President Dilma Roussef in the crusade with the law makers to pass the badly needed austerity program. The Economist has been writing about the ups and downs of the Brazilian Economy since the economy took off in 2010 and it floundered in 2014.... Continue Reading →
Petrobras Bonds Tell You a Lot About the State of Markets
Petrobras Bonds Tell You a Lot About the State of Markets Those century bonds sold by Petrobras have plenty to say June 2, 2015 — 11:32 AM BRT The Petrobras Building.Photographer: Rich Press/Bloomberg Petrobras, the scandal-ridden, junk-rated, state-controlled Brazilian oil producer, surprised markets to sell $2.5bn worth of bonds with a 100-year maturity on Monday. Here's what the unusual debt sale can... Continue Reading →
UPDATE 1-Brazil’s current account gap widens to $6.9 bln in April
Tue May 26, 2015 10:15am EDT UPDATE 1-Brazil's current account gap widens to $6.9 bln in April May 26 (Reuters) - Brazil's current account deficit grew more than expected in April, exceeding the net inflow of investments from abroad into Latin America's largest economy, central bank data showed on Tuesday. Brazil's current account gap widened... Continue Reading →
