Brazil: Opportunities in times of uncertainty

Brazil will bounce back after the current recession and a nail biting period of uncertainty – but how long will it take? What do investors expect for 2016? And who will be ready for the turnaround?
|   By Thierry Ogier   |
Latin America’s largest economy has been going through another period of recession, but the transition may already be underway. However painful the adjustment may be, it has been weathered by most companies investing in Brazil. For some, it may be uncertain times. Business confidence has been badly affected by the Petrobras corruption scandal, and Congress may yet water down the government austerity package.
But opportunities are being seized for those who want to be ahead of the pack, and this will ultimately boost economic growth. “Brazil is still a complex place to do business, but it is a great market and there are a lot of opportunities in various sectors,” said Helio Magalhães, CEO of the Brazilian subsidiary of Citibank.
The concession program in infrastructure that was unveiled in June [TBC] has opened new avenues for investors, including those from China in the wake of Prime Minister Li Keqiang’s visit to Brazil in May. Financing will be the key. “We are optimistic because we see a window of opportunity, but you still need to get a few things right,” said Héctor Gómez Ang, IFC’s Brazil country head. “The transition from a public bank-led to a new model of financing with a greater involvement of capital markets is not going to happen overnight,” …

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