Levy Says Brazil is Better Prepared for External Shocks

Lise Alves, The Rio Times, 10/9/2015 

Although the possible increase in U.S. interest rates and the slowdown of the Chinese economies may hinder exports, the country’s Finance Minister, Joaquim Levy, said yesterday that Brazil is currently better prepared to face foreign shocks than it was fifteen years ago. The statement came as Levy attends the International Monetary Fund’s annual meeting in Lima, Peru this week.

“We have now, for example, international reserves, which we did not have back then,” said Levy during a meeting of the International Monetary Fund (IMF) in Lima Peru. “Our countries [of Latin America] are receiving these shocks and we are processing them,” added Levy.

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