Business

Brazil’s rating downgrade caught the government off-guard

Brazil’s rating downgrade finances
S&P downgraded Brazil’s rating to BB-. Photo: Lula Marques/PT
Brazil’s rating downgrade finances
S&P downgraded Brazil’s rating to BB-. Photo: Lula Marques/PT

Early on Thursday afternoon, Finance Minister Henrique Meirelles used Twitter to celebrate an article by The Financial Times. The piece highlighted how Brazil’s auto exports had risen by 46 percent in 2017. “Brazil is exporting more cars, with better prices and better quality,” says the FT article. Minutes...

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