Tag Archives: South America

Pelé from Brazil mourned the passing of Argentine footballer Maradona | Instant News

FILE PHOTOS: Football legend Pele waves as he attends the World Economic Forum on Latin America in Sao Paulo, Brazil, March 14, 2018. REUTERS / Paulo Whitaker

SAO PAULO (Reuters) – Retired Brazilian soccer star Pelé mourned the death of Argentine great Diego Maradona on Wednesday, following confirmation that he had died of a heart attack earlier in the day.

“For sure, one day we will kick the ball together in the sky above,” he said in a brief statement given to Reuters by a representative.

Reporting by Eduardo Simões; Written by Gram Slattery; Edited by Chizu Nomiyama


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POLL-Brazil stocks reach pre-coronavirus levels in 2021 | Instant News

* cpurl: //apps.cp./cms/? pageId = stock-index polling poll data

BUENOS AIRES / SAO PAULO / MEXICO CITY, 25 Nov (Reuters) – Stocks of razilian B will reach pre-pandemic levels by the middle of next year, but concerns about the impact of a second wave of coronavirus cases could limit recovery, a Reuters poll aired on Wednesday.

The benchmark Bovespa stock index is expected to partially cover that road by the end of 2020. The index has risen 70% from lows caused by COVID-19, which has caused nearly 170,000 deaths in Brazil.

However, Latin America’s largest equity market is seen stalling in the second half of 2021 due to concerns about the potential damage caused by a recurrence in the second-worst country after the United States.

“Increasing uncertainty and the possibility of a repeat of the lockdown in Europe and America carries a tougher scenario which, if materialized, will stop Ibovespa,” said Alexandre Jung, head of equity at Vero Investimentos.

The index is expected to close this year at 108,000 points, 0.6% above its value on Monday, and then climb to 117,500 points – close to its record in January – by mid-2021, the median estimate of 10 strategists surveyed on November 12 – 23 shows.

But it is expected to trade not too far from that level by the end of 2021, with investors on alert for any improvement in the precarious state of Brazil’s public accounts and the next steps of President Jair Bolsonaro’s administration.

Last week, credit rating agency Fitch affirmed its ‘BB-‘ rating on Brazil’s sovereign debt but maintained its negative outlook, citing a sharp widening in the government’s budget deficit and soaring debt.

“Investors will only look again at increasing their exposure to the country’s risk assets once important political and economic issues are determined in 2021, which will require a lot of effort,” Jung said.

Mexican equities are expected to return to pre-coronavirus levels by the end of next year, up 11% to 46,000 points from a forecast of a close of 41,500 on the last trading day of 2020, the survey showed.

While far short of its July 2017 record of 51,713.28 points, next year’s forecast is much more bullish than the final value forecast for the S & P / BMV IPC index in the last poll taken three months ago, at 42,600 points.

This is explained by speculation that Mexico’s central bank will maintain its dovish stance to ensure an economic recovery that does not have the massive spending stimulus imposed by its neighbors.

“As Mexico’s benchmark interest rate will likely stay at 4.0%, offering negative yields in real terms, investors will be looking for better returns on the local stock market,” said Gerardo Copca, chief market analyst at MetAnalisis.

Another story from the Reuters global stock market poll package: Reporting by Gabriel Burin; Additional polls by Peter Frontini at SAO PAULO, Miguel Ángel Gutiérrez at MEXICO CITY, Richa Rebello and Manjul Paul at BENGALURU; Edited by Ross Finley and Barbara Lewis


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Brazil’s Bolsonaro will not rule out more payments for pandemic assistance | Instant News

BRASILIA, November 24 (Reuters) – Brazilian President Jair Bolsonaro on Tuesday told supporters that he did not rule out extending emergency pandemic aid payments to Brazilians past the end of the year, a move that has proven popular with Brazil’s poor, but not among investors.

“We are preparing everything, but we have to wait for certain things to happen,” said Bolsonaro outside the presidential palace in Brasilia, when asked about the possibility of extending the payments, designed to help Brazilians deal with the economic impact of the coronavirus. pandemic.

“I hope it is not necessary because the signs are pointing to the economy taking off and we are not going to put a new lockdown on Brazil,” he added.

In the first months of the pandemic in Brazil, the government offered an aid payment of 600 reais ($ 112) per month, which was reduced to 300 reais per month starting September.

The payments increased Bolsonaro’s popularity, while also worrying many government officials and investors about deteriorating government finances.

$ 1 = 5.37 reais Reporting by Ricardo Brito; Written by Gram Slattery; Edited by David Gregorio


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The total number of deaths from Brazil’s coronavirus stands at 170,000 | Instant News

FILE PHOTO: Medical personnel treating patients in the intensive care unit (ICU) of the Nossa Senhora da Conceicao hospital, during the coronavirus disease (COVID-19) outbreak, in Porto Alegre, Brazil, 19 November 2020. REUTERS / Diego Vara

RIO DE JANEIRO (Reuters) – Brazil registered an additional 31,100 confirmed cases of the new coronavirus over the past 24 hours and 630 deaths from COVID-19, the Health Ministry said Tuesday.

The South American country has now registered 6,118,708 cases since the pandemic began and the official death toll has risen to 170,115, according to ministry data.

Reporting by Gram Slattery; Edited by Brad Haynes


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UPDATE 1-The Brazilian economy minister said the real slump overshot, said the rate should be close to 5.00 / dollar | Instant News

(New throughout, adding details, background and comments)

BRASILIA, Nov 23 (Reuters) – Brazilian real, which hit a record low in May and fell 30% against the dollar this year, has crossed the line, Economy Minister Paulo Guedes said on Monday, pegging its equilibrium level to near 5.00 per dollar.

In an online event hosted by financial research firm Empiricus and fintech Vitreo, Guedes said the treasury would have no problem rolling out more than 600 billion reais of debt in the first four months of next year, half of which was sourced.

Guedes reiterated his view that Brazil’s policy mix is ​​one of low interest rates and a weak exchange rate, the opposite of what was under the previous administration when interest rates exceeded 10% and real was as strong as 2.00 per dollar.

“The economy is much healthier with an interest rate of around 2% and an exchange rate of 5.00 … that’s much better. The exchange rate even exceeds, “said Guedes.

“When you change the equilibrium level (between the interest rate and the exchange rate), you get a big move past the equilibrium level and then back again. I think we have crossed the line, if we make progress with reforms, “said Guedes.

In May, the real value weakened to nearly 6.00 per dollar, and on Monday ended trading around 5.45 per dollar. Guedes and central bank officials said the weak exchange rate was a natural consequence of interest rates being cut to a record low of 2.00%.

The central bank has intervened to sell billions of dollars in the spot and derivatives markets this year to slow real declines. Guedes also said on Monday that a weak currency boosted exports and low interest rates sparked a construction boom.

In his broad remarks, Guedes also said he did not “see any problem with this government (refinancing),” adding “we don’t think we are in a dramatic situation.”

He said 300 billion reais of the 600 billion reais to be refinanced in Jan-April were covered. He pointed to 200 billion reais of central bank cash transferred to treasurers and more than 100 billion from deleveraging of public banks.

$ 1 = 5.45 reais Reporting by Jamie McGeever and Marcela Ayres; Edited by David Gregorio


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