Argentina: crônica de uma renegociação prenunciada, escreve Otaviano Canuto

Os atuais descontos nos preços dos títulos argentinos sugerem estar já sendo precificado um calote. Os títulos de dívida pública de 100 anos, por exemplo, lançados como símbolo do entusiasmo em 2017, estavam quinta-feira sendo negociados a 42 centavos por dólar, enquanto títulos com maturação em 2021 tinham preços de 48 centavos por dólar.

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ENTREVISTA/OTAVIANO CANUTO: HÁ VISÍVEL RECOMPOSIÇÃO DE PORTFÓLIOS EM ESCALA GLOBAL Por Simone Cavalcanti

  AGÊNCIA ESTADO – BROADCAST 23/08/2019 15:23:49 - TOP NEWS ENTREVISTA/OTAVIANO CANUTO: HÁ VISÍVEL RECOMPOSIÇÃO DE PORTFÓLIOS EM ESCALA GLOBAL Por Simone Cavalcanti São Paulo, 23/08/2019 - O diretor do…

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Fed Monetary Policy, Inverted Yield Curve and Outlook for US and Global Economies

Since the Fed’s July meeting, when the Fed Funds Rate had a 0.25% cut, fears about the impact of the US-China trade war on the global economy have escalated. The US yield curve inversion received much attention as a harbinger of a slowdown in the global and US economic outlooks. We approach here whether lights on next monetary policy events can be obtained from reading the minutes of the Fed’s meeting – and of the July meeting of the ECB governing council – released this week.

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Fed Monetary Policy, Inverted Yield Curve and Outlook for US and Global Economies

Since the Fed’s July meeting, when the Fed Funds Rate had a 0.25% cut, fears about the impact of the US-China trade war on the global economy have escalated. The US yield curve inversion received much attention as a harbinger of a slowdown in the global and US economic outlooks. We approach here whether lights on next monetary policy events can be obtained from reading the minutes of the Fed’s meeting – and of the July meeting of the ECB governing council – released this week.

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Argentina’s half-baked adjustment has not worked

Argentina’s peso tumbled and stocks plunged after last Sunday’s primary elections. The perception of a likely victory of President Macri’s opponents – Alberto Fernandez, and running mate, Christina Fernandez de Kirchner - has sparked a new shift in investor preferences away from peso assets, pressures on the exchange rate, and hikes on sovereign spreads. Unless fears of a return to policies prevailing before Macri are assuaged, the market rout tends to deepen.

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Brazil must hold to structural reforms while undergoing slow economic recovery

Brazil's economic recovery after the deep 2015-16 recession has been the slowest on record, with GDP per capita last year remaining more than 9% below its pre-crisis peak. The IMF's annual report on the country's economy, released two weeks ago, estimated current GDP to be nearly 4% below its potential level, which suggests insufficiency of aggregate demand. On the other hand, as the slow recovery reflects structural factors, it is necessary to avoid the use of measures to reinforce such demand that might run against the confrontation of such problems.

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Liberação do fundo de garantia não sustentará retomada da economia

Na avaliação do economista Otaviano Canuto, ex-diretor do Banco Mundial e do conselho do FMI, a liberação do Fundo de Garantia por Tempo de Serviço (FGTS) aos trabalhadores não sustentará a retomada da economia brasileira. Ele observa problemas estruturais mais graves no País como o baixo investimento em infraestrutura e a anêmica produtividade, reflexo da precária qualidade da educação.

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Read more about the article Para Canuto, questão ambiental pode prejudicar acordos e investimentos
March 3, 2010 - Washington, D. C. The "Oil and Gas in Federal Systems Conference" was held at The World Bank headquarters in Washington, D. C. Organized by the World Bank and the Forum of Federations, with sponsorship from NORAD

Para Canuto, questão ambiental pode prejudicar acordos e investimentos

O acordo entre Mercosul e União Europeia é um exemplo de notícia boa que está sendo abalada nos últimos dias, de acordo com ex-diretor do Banco Mundial

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Lenta recuperação da economia brasileira reflete problemas estruturais, observa Otaviano Canuto

A recuperação econômica brasileira após a profunda recessão de 2015-16 tem sido a mais lenta até hoje registrada, com o PIB por habitante no ano passado permanecendo mais de 9% abaixo de seu pico anterior à crise. O relatório anual do FMI sobre a economia do país, divulgado na semana passada, estimou o atual PIB como quase 4% abaixo de seu potencial, o que sugere insuficiência de demanda agregada. Por outro lado, como a lentidão da recuperação reflete fatores de ordem estrutural, cumpre evitar que o recurso a medidas de reforço de tal demanda jogue contra o enfrentamento de tais problemas.

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Natural wealth and economic growth – the case of sub-Saharan Africa

This note approaches the relationship between natural wealth and economic growth, using the case of Sub-Sahara African economies as an illustration. Delving into recent World Bank reports, it highlights how a sustained positive correlation between natural capital and GDP growth happens through the transformation of the former into other forms of assets: produced capital, human capital and other intangible assets. Governance features and the quality of macroeconomic policies are of the essence for such a benign trajectory to take place.

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Mercosur-EU trade agreement: better late than never

The inclusion in the agreement of commitments regarding food security, environmental sustainability, adherence to the Paris Agreement, labor rights, rights of indigenous communities and others strengthen a Brazilian association to the European style of "globalism", assuaging fears widespread abroad that the country would turn to opposite directions after Brazil’s President Bolsonaro came to government.

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