In the Financial Times headline, “Brazil enters recession and inflation squeezes the economy”. He added that “the contraction was mainly caused by a drop of 8% in agriculture and 9.8% in exports of goods and services”, and that “industry remained stagnant”.
In Bloomberg’s statement, “Brazil’s economy enters recession for the second year in a row.” He also explained that “Brazil’s broad agricultural sector fell 8% in the quarter, while the industry was stable”, and projected “increasing challenges”:
“Unemployment is above 12%, annual inflation is at its highest level in five years and the Central Bank has unleashed the most aggressive monetary tightening in the world this year. While most countries are experiencing strong post-pandemic growth, Brazil is losing strength.”
The FT referred to its interview with Minister Paulo Guedes last week, in which he “dismissed predictions that he would enter a recession again, saying that his critics are consistently wrong in their predictions”. He declared that Brazil is already in a “V-shaped” recovery and, for next year:
“Let’s surprise the world again.”
EMPTY PROMISES
In the New York Times, “Hundreds of companies pledged to help save forests. Did they do it?” It was ten years ago. Giants like Cargill, Nestlé and Carrefour “have committed to achieving zero deforestation in their supply chains” within a decade.
“But none can claim to have eliminated forest destruction from their supply. Many have not even tried.” Cattle from deforested land in Brazil, exemplifies the NYT, are sold through intermediaries, hiding their origin.
In the FT, along the same lines, but with other targets, “Asset managers fail to fulfill promises of divestment from Brazil due to deforestation”. An inaction that coincides with the moment when “the deforestation rate reaches the highest level in 15 years”.
It points out managers like Legal & General and adds retailers like Tesco, which had also made “threats to boycott Brazilian products”, not fulfilled.
BOLSONARO, NOW KAST
Like what happened with Jair Bolsonaro before being elected in 2018, also the Chilean ultra-rightist Jose Antonio closet was received in the US by organizations such as the Americas Society/Council of the Americas (above, with its president, Susan Segal, on Thursday, the 2nd), which advocates the interest of American companies in the hemisphere.
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