Brazil

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Opinion

Bolsonaro’s pilgrimage to Beijing

A strategic alliance between Brazil and China could be music to the ears for both leaders, but Bolsonaro does not want to look like one more vassal. Xi Jinping might need to think of a more exclusive offer to the President of the largest economy in Latin America.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: October 29, 2019
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Policy Contribution

The European Union-Mercosur Free Trade Agreement: Prospects and risks

After nearly 20 years of on-off negotiations, the European Union and Mercosur – a customs union covering Argentina, Brazil, Paraguay and Uruguay – in June 2019 reached a political agreement on a trade deal. But to derive the full benefits from the EU-Mercosur agreement, major reforms will be needed.

By: Michael Baltensperger and Uri Dadush Topic: Global Economics & Governance Date: September 24, 2019
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Opinion

Dousing the Sovereignty Wildfire

In time, the current spat between French President Emmanuel Macron and his Brazilian counterpart Jair Bolsonaro regarding the Amazon rainforest may become a mere footnote. But other rows between collective and national interests are sure to erupt, and the world needs to find a way to manage them.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: September 3, 2019
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Blog Post

Jair Bolsonaro’s Brazil

Far-right candidate Jair Bolsonaro won the Brazilian presidential elections after a highly polarising campaign. We review economists’ and scholars’ views of what this means for Brazil going forward.

By: Silvia Merler Topic: Global Economics & Governance Date: November 5, 2018
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Blog Post

Brazil can learn from Spain: don't delay adjustment

Brazil’s economic crisis has much in common with Spain’s crisis from 2009 – 2012. The IMF and the global community must work together to ensure a stabilisation programme for Brazil before it is too late, as euro-area countries did with Spain. The credibility of policy adjustment is key.

By: Alicia García-Herrero and Guntram B. Wolff Topic: Global Economics & Governance Date: May 11, 2016
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Blog Post

Brazil: playing with fire

Rattled by political turmoil and in the midst of severe stagflation, Brazil is really ‘playing with fire’. Urgent measures are needed to reduce the fiscal deficit along with key structural reforms to reduce the size of the government.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: November 6, 2015
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External Publication

Follow what I do, and also what I say: Monetary policy impact on Brazil’s financial markets

The objective of this paper is to assess empirically whether futures interest rates in Brazil react to changes in the SELIC rate and, especially, to different pieces of communication released by the BCB.

By: Enestor Dos Santos, Alicia García-Herrero and Eric Girardin Topic: Global Economics & Governance Date: April 26, 2015
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Opinion

Can Brazil get over the World Cup?

Brazilians had mixed feelings about the World Cup even before their team's humiliation in the semi-final match against Germany. Now they're left to dwell on what's been spent on the competition and what they got out of it -- a pretty dismal return on investment.

By: Jim O‘Neill Topic: Global Economics & Governance Date: July 17, 2014