In the last three days the markets seem to be signaling that something has changed. The non US stock markets that had previously recovered the most are now the biggest underperformers. Commodities are showing the same underperformance. The dollar is slowly recovering. It seems that the market is testing the general consensus that the rest of read more
The Brazilian government decided to increase the tax to capital inflows (with the exception to direct investment). This is a bad policy but is not enough to overturn the country’s attractiveness to international capital inflows. Capital controls increase the cost of foreign investment for the economy and therefore diminishes potential growth. The Brazilian government took read more
Just came back from the IMF Annual Meetings in Istanbul, where I attended meetings with ministers and central bank presidents of more than 12 countries, as well as officials from the IMF and G7 governments. Here are a few concise conclusions from all those meetings, that will certainly take a bit more time to fully read more
Before heading to Turkey for the IMF annual meetings, let’s do a little reckoning of views and where things are going (from a big picture standpoint). Also, what are the themes that seem to be shaping this next IMF meetings this weekend, in terms of the debates going on and the agendas put together by read more
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