FGV Projetos debates the Brazilian economic scenario in New York

Last week, FGV Projetos and the Brazilian-American Chamber of Commerce held the 3rd World Economy and Brazil meeting, which encourages cooperation in converging industries in the United States and Brazil, and discusses the global economic situation and its implications.
Institucional
19 Maio 2014

Last week, FGV Projetos and the Brazilian-American Chamber of Commerce (BrazilCham) held the 3rd World Economy and Brazil meeting in New York, which is already part of the city's economic calendar and encourages cooperation in converging industries in the United States and Brazil, and discusses the global economic situation and its implications.In this edition, the moment of the Brazilian economy in an election year was the focus of the debate which gathered at Harvard Club, the director of FGV Projetos, Cesar Cunha Campos; IMF's chief economist; Olivier Blanchard; senior consultant on the BRICS at the World Bank, Otaviano Canuto; and the former president of the Central Bank and director of FGV's World Economics Center, Carlos Langoni. The meeting also raised issues related to emerging markets and the current international situation, with analysis on the future of the Brazilian economy and the role of emerging countries in this scenario.Economic growth is the biggest challengeAt the opening of the event, Cesar Cunha Campos spoke about the current political and economic scenario of the country and made an analysis of the elections and the main challenges for the coming years. In 2013, Brazil presented a stable economy and economic growth will continue to be the greatest challenge in the coming years. Moreover, we will be the witnesses of a country under full democracy, working hard to reduce its inequalities, with social inclusion policies, a strong sustainability agenda and fiscal responsibility at all levels of government, he said.In Otaviano Canuto's opinion, one explanation for the lower growth of Brazil and countries such as Russia and South Africa is the absence of structural reforms needed to exploit autonomous growth sources.  Olivier Blanchard presented a global macroeconomic view, stating that emerging countries are better off in the external front. However, IMF's chief economist emphasized that investors are worried about Brazil because figures, such as public deficit and inflation, worsened compared to the period before the crisis.For the scenario of low growth and little optimism, Carlos Langoni suggests an increase in productivity and consumer and business confidence as possible solutions. He also mentioned that it would be important to change the Central Bank's status from autonomous to formally independent - which would distance the institution from political influences.The 3rd World Economy and Brazil was attended by businessmen, economists and students of leading American universities, and representatives of governments and experts.Person of the Year Awards Gala DinnerIn the same week, FGV Projetos participated in the Person of the Year Awards Gala Dinner, sponsored since 1970 by BrazilCham. Such as the 3rd World Economy and Brazil, the event brought together experts to promote the exchange of ideas focused on emerging markets' economies and encourage cooperation between the United States and Brazil.Moreover, while in New York, FGV Projetos was present at conferences conducted by Brazilian banks.

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