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Wednesday, April 30, 2008

Good news from Brazil: S&P's rates it "Investment grade'

Bovespa Rises to Record After Investment Grade Rating:
Brazil's Bovespa stock index jumped to a record after Standard & Poor's unexpectedly raised the country's credit rating to investment grade.
Brazil's rating was lifted to BBB-, Standard & Poor's lowest investment grade rating, the rating company said today.

S&P cited the country's "continuity" in maintaining its inflation targeting policy and government debt levels "increasingly in line" with investment grade countries.

Brazil became a net foreign creditor for the first time this year, inflation dropped to a seven-month low in February and the benchmark interest rate was at a record low 11.25 percent before this month's increase. The country's economy probably grew at a 4.8 percent rate last year, the fastest since 2004, according to the median economist estimate in a Bloomberg survey.
Things are looking up.

The big news in Brazil, however, is that soccer star Renaldo got caught with three transvestite prostitutes because of "psychological problems due to his knee injury."

When it comes to excuses, that's a new one.


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At 5:10 PM, Blogger Francis W. Porretto said...

How many prostitutes (and of what genders) would be required to assuage the emotional stress from a stiff neck? Or a loss in the World Cup finals? Enquiring minds want to know!

At 5:49 PM, Blogger SC&A said...

What a coincidence!

My knee problems were a result of a psychological condition...

At 12:42 PM, Anonymous Gringo said...

While I am disappointed regarding Lula's refusal to condemn Hugo's insanities, he has been not half bad with regards to the economy. Regarding Lula's leftist rhetoric but more centrist economic policy, I am reminded of what the Nixon administration said regarding its policies regarding blacks(affirmative action, integration, etc) in the face of some Wallace-like rhetoric coming from the Administration.

"Watch we do , not what we say." So it is with regards to Lula and the economy.


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