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...As Arminio Fraga, the former Brazilian central bank chief, put it in a recent interview: “I started to have hope [back in 2002] when I heard from former president Fernando Henrique Cardoso that Lula was...
...“If the change of economic direction is maintained, that [economic reform] consolidation will only be a good thing,” says Arminio Fraga, the respected former head of the central bank....
...“There is no visibility, there is a massive mistrust in politics, of politicians,” laments Arminio Fraga, a former central bank chief....
...“This is the worst political crisis that Cristina Fernández’s government has faced,” says Rosendo Fraga, a political analyst....
...Additional reporting by John Paul Rathbone in London...
...When money is scarce, it makes sense to look for added value in what lies closest to hand. ——————————————- Details Paul Richardson was a guest of the Parador de Corias (www.parador.es)....
...Arminio Fraga, former president of Brazil’s central bank, said: “The good thing is that Brazil has a floating exchange rate, so there will be no Armageddon....
...“It’s good to get on with your neighbours, but the rest of the world is doing trade deals and Brazil risks getting left out,” said Arminio Fraga of Gavea Investments, a fund, and the former head of the Brazilian...
...Additional reporting by John Paul Rathbone and Thalita Carrico in São Paulo...
...Although the ratio of loans to gross domestic product is still relatively low in Brazil at 46 per cent, the debt service burden on consumers has reached 24 per cent of disposable income, fund managers Paul...
...Mr Fraga said he intended to stay for longer than five years....
...Slowing government spending “would pay huge dividends,” adds Mr Fraga....
...“I don’t expect any major [policy] changes, at least not for the worst,” says Armínio Fraga, a former head of the Brazilian central bank....
...Related links: Paul Volcker is back, and he warns of tough times ahead – LA Times...
...There are first-rate individuals who meet the criteria, including Arminio Fraga....
...Paul Collier, a professor at Oxford, said the biggest economic problem in Africa “is not poverty, it is accelerating divergence with other developing countries.”...
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