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Weekly Report - 28 February 2013 (WR-13-08)

BRAZIL goes begging

The normally controversial finance minister Guido Mantega was on his best behaviour in New York this week, where he began an international road show seeking upwards of US$230bn in infrastructure investment. Mantega and his entourage plan to woo investors in the US, Europe and Asia in the next couple of weeks, and in support of that effort President Dilma Rousseff is also firmly on message back home, pledging clear rules of the game and a stable operating environment for investors. Having belatedly realised that private investors were scared off by the rolling and unpredictable policy changes of the past two years, the Rousseff administration is on a major charm offensive to win them back. Brazil bears have been unable to resist a bit of schadenfreude.

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