Lula in NY: Investors shouldn't be afraid of Brazil.
An audience of members from the Americas Society and the Council of the Americas, which includes representatives from major banks such as JPMorgan, Bank of America, and Citi, said the former president was "quite convincing" in saying that predictions about the country are exaggerated; earlier in the week, the Fed, the American central bank, identified Brazil as one of the most vulnerable emerging markets.
247 - Former President Luiz Inácio Lula da Silva traveled to the United States with a clear mission in mind: to debunk pessimistic international news about Brazil. After a meeting with former President Bill Clinton, Lula addressed an audience of American investors and Brazilian business leaders in New York.
Faced with negative forecasts about the performance of emerging markets, the former president tried to persuade the financial market that there should be no fear of investing in Brazil.
In its semi-annual monetary policy report sent to Congress yesterday, the Fed (the American central bank) cites Brazil 11 times and places it among the countries that have suffered the most from the recent flight of capital from "risky" assets.
For Lula, the assessment is exaggerated, based on the country's growth over the last 11 years. Some members of the Americas Society and the Council of the Americas, which brings together representatives from major banks such as JPMorgan, Bank of America and Citi, said that the former president was "quite convincing" (read the report from...). Folha de S. Paul (regarding the subject).