Brazil 'unaffected by global economic problems'
The finance minister of Brazil has said his country has not been affected by the global credit crunch that has hit its rich neighbour, the US, particularly hard.
According to Guido Mantega, Brazil's economy is still on solid ground but he urged the US and Europe to take measures to prevent the credit crisis from spreading to other parts of the world.
"We are on solid bases. We have reserves of $195 billion (£96 billion) and there is great trust in the Brazilian economy," he told reporters.
"All analysts are unanimous in saying that Brazil is a place where things are going well, where companies and banks are solid, so we are protected up to now."
Jose Guimaraes Monforte, chief executive at Pragma Gestao de Patrimonio, told Bloomberg that Brazil offers a strengthening currency, large international reserves and "quite attractive" assets.
He also said that there is enough liquidity in world markets for investment purposes.
< Back to latest news