Brazil & Panama
BRAZIL: The central bank set its inflation target for 2008 and 2009 at 4.5%, the same as the previous three years. This went against market forecasts, which expected the bank to lower the target to 4% after it reined over inflation. Last year inflation was 3.14%. Inflation between January and May this year stands at 1.79%.
BRAZIL: The central bank rose its current account surplus forecast from US$7.7bn to US$10.7bn this year, a figure equivalent to 0.92% of the country's GDP. The bank forecast a trade surplus of US$37bn in 2007.
PANAMA: The Panamanian economy expanded 9.4% in the first three months of the year in comparison to the same period in 2006.
PANAMA: Unemployment in Panama fell from 11.8% of the working population in 2004 to 8.6% in 2006.