Long-Term Outlook Still Bright

While acknowledging the impact of the current recession, we remain long-term bullish the Brazilian economy. We believe that Brazil's economy has a lot going for it, ranging from an enviable array of commodity resources, such as soy, sugar, iron ore, steel, and hydrocarbons (our oil and gas desk expects Brazil to become a net exporter of oil by 2011), to a highly promising consumer segment. We expect the Brazilian consumer to continue to grow in prominence over the coming decade, as bank lending will continue to be a driving force behind Brazil's economic performance, offering more sophisticated financial instruments to different sectors of the economy, where housing and agricultural loans are still a very nascent phenomenon.

To read the full article, please choose one of the following options: