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Brazil – Banking: More shadows than bright spots in Brazil’s recovery

|   By José Luis de Haro   | Latin America’s biggest economy is also its biggest drag. A myriad of macroeconomic and political challenges have sunk Brazil’s growth projections, which now is expected to get trapped in a recession this year. According to the International Monetary Fund, Brazil’s GDP will contract 1.02 percent this year, and the country will expand less than one percent in 2016. Economic data during the first quarter showed a substantial contraction in domestic absorption. “Consumer confidence remains at a record low level, and real income growth is now shifting to the negative zone,” explained […]
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