Macroeconomic Forecast Brazil

January 2008 | Macroeconomic Forecasts

A surge of capital inflows into Brazil in 2007 goes some way to explain the massive accumulation of international reserves last year. The full year reserve figure of US$180.3bn (bang on our own projection) was more than double that of 2007, corresponding to a mammoth 18 months worth of goods imports. The outlook for 2008 is less bright but still relatively benign, in our view.

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