Word: brazile
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Dates: during 2000-2009
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...would win a referendum on his presidency, which, under Venezuela's new constitution, he is not required to call until next August. The impoverished masses who march for him, and who had little if no voice in pre-Chavez Venezuela, are the key to his resilience, just as Brazil's exasperated poor, fed up with the unfulfilled promises of a decade of capitalist reforms in Latin America, are likely to vote Workers Party candidate Luiz Inacio Lula da Silva into the presidency next week. "The oligarchs in this country just want to demonize Chavez because he's giving our class...
...business expense and lower its assumed pension-plan rate of return to 8% from 9.5%. Citi still faces as much as $10 billion in potential costs stemming from settlements, fines and shareholder lawsuits, Mayo estimates. At the same time, the bank is dealing with souring investments in Argentina and Brazil and is under a cloud for lending practices in the Caribbean. This should have been Weill's year. Citi's booming earnings have put it on track to unseat ExxonMobil as the most profitable corporation in the world. Fortune named Citi one of the world's most admired companies...
...economic autarchy is not an option for the export-driven economic powerhouse. The recent $30 billion stand-by credit approved by the IMF on September 6 - the largest ever granted to any country - is scheduled to be released in stages, the bulk of it delivered in 2003 only if Brazil complies with the "relevant criteria" established by the Fund. And that's a strong inducement for Lula to not stray too far from the IMF's program...
...Investors' concerns about the candidate's economic maturity and ability to rein in Brazil's tendency to over-borrow and overspend appear to ignore the fact that the country's erratic economic performance over the last few years has occurred on the watch of certified free-marketeers. Ideological suspicion rather than the hard reality of policies appears to be guiding decision-making in the world's financial centers in the weeks prior to the vote. Lula's supporters point to his party's successes in turning the southern state of Rio Grande do Sul, which it has ruled...
...National government, however, will demand a nimble balancing act from the PT. Its support is based on promises of meaningful reforms aimed at developing a more responsive state, creating a stronger and broader domestic consumer base and strengthening Brazil's position in hemispheric affairs. But none of that will be possible by isolating Brazil from international investors, whose outlook may be more conditioned by the IMF orthodoxy of the recent past that has little sympathy for government spending on social programs to alleviate economic distress among the urban poor. Indeed, the socialist Lula's greatest challenge may lie in persuading...