Word: brazile
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Dates: during 2000-2009
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...This has changed our reality.' DILMA ROUSSEFF, chief of staff for Brazilian President Luiz Inácio Lula da Silva, on the discovery of huge oil reserves off the nation's coast that could turn Brazil into one of the world's biggest oil producers...
...debt. Bank deposits were frozen to halt panicked runs, and an enraged middle class took to the streets. The country went through five Presidents in just two weeks. Wall Street feared that the crisis, one of the worst in South America's history, would spread next door to giant Brazil--where the élite predicted financial ruin if Luiz Inácio Lula da Silva, head of the left-wing Workers' Party, was elected President that year--and even to stable Chile, where executives groused over glasses of Chilean Cabernet Sauvignon that the U.S. Congress might block Santiago's free-trade...
...stor Kirchner was elected in 2003, annual growth has averaged 9%, the best in Latin America. Argentina has parlayed a cheaper but stable peso into record export earnings. "Argentina," crows Central Bank president Martín Redrado, "is enjoying its most solid macroeconomic context of the past 30 years." In Brazil, Lula's election (and 2006 re-election) did not render the region's largest economy a leftist basket case. Instead, inflation has fallen from 12.5% in 2002 to less than 4% today. Brazil's real has climbed 56% against the U.S. dollar, and the São Paulo stock exchange...
Joorabchian's entry into the Brazilian game was, to kick a metaphor around, out of left field. An investment banker and former car salesman, he arrived in Brazil from Britain in 2004 seeking to buy a media outlet. But after watching Corinthians, he decided sports was a better bet. The team was desperate for a benefactor. Despite a fan base of some 24 million, the club attracted fewer than 10,000 people at most games, was more than $20 million in debt and had a revenue stream one-tenth of the $300 million that English powerhouse Manchester United rakes...
Still, Brazilian heads turned when Joorabchian signed a 10-year deal giving MSI control--and 51% of the profit. Joorabchian spent $14 million to bring three top players back to Brazil. Then he lured star Argentine forward Carlos Tevez for a South American record $22.6 million...