Economy & Business - November 2024

Nearly halfway through President Luiz Inácio Lula da Silva’s four-year term, Brazil’s economy is humming along at a better-than-expected 3% pace and unemployment is at its lowest level in about a decade. To sweeten things further, Moody’s ratings agency upgraded Brazil’s credit in early October to within one notch of investment grade status, while maintaining a positive credit outlook. And yet many investors have not been convinced that Latin America’s largest economy is on a sustainable path of recovery.