“Brazukes Swap Debit for Credit”

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“It’s good to be the owner of your own nose.” –President Squid, 2007

Status de credor pode render grau de investimento ao Brasil, diz ‘LA Times’: “Creditor-nation status could lead to investment-grade rating, says Los Angeles Times,” reports G1/Globo.

Which apparently just cribs its domestic news from newspapers published in another hemisphere in another language. This story is, in fact, not filed by Globo reporters at all, but by BBC Brasil. Globo’s own original coverage consists entirely of a brief rewrite of the Central Bank press release.

Top headline in the LAT today: “Gang mayhem closes blocks in Northeast L.A.”

Didn’t I just read that the paper appointed its “innovation editor” to the top editorial post?

O anúncio do Banco Central de que o Brasil passou a ser credor no cenário internacional, graças ao crescimento de suas reservas internacionais, foi destaque na edição desta sexta-feira no jornal americano Los Angeles Times.

The announcement by the Central Bank that Brazil is now a net creditor on the international scene, thanks to the growth of its its foreign reserves, was given prominent play in the U.S. newspaper Los Angeles Times.

“A mudança do Brasil para o status de credor pode aumentar a confiança dos investidores na maior economia da América Latina e ajudar o Brasil a obter a classificação de grau de investimento”, afirma o LA Times.

“Brazil’s shift to creditor status could increase investor confidence in the largest Latin American economy and help Brazil obtain an investment-grade rating,” the Times says.

This is news?

A mudança de status se deu porque, pela primeira vez, as reservas internacionais – ativos que o governo e o setor privado possuem no exterior – ultrapassaram a dívida externa.

The change in status comes because for the first time, foreign reserves — government and private-sector assets abroad — exceed the nation’s foreign debt.

Celso Ming notes in his column inValor today that the need for foreign investment to leverage a big strategic mining buyout might reverse the moment within a few months

A sidebar notes that the Treasury seemed irritated with the Central Bank for jumping the gun on the announcement, stealing some political-marketing thunder from the moment. Oh, well.

O jornal comenta que o país pagou seu débito com o FMI e as exportações triplicaram desde que o presidente Luiz Inácio Lula da Silva chegou ao poder em 2003, graças ao aumento na demanda global por soja, minério de ferro, carne e outros produtos brasileiros.

The newspaper comments that Brazil has paid off its debt to the IMF and that exports have tripled since Luiz Inácio da Silva came to power in 2003, thanks to the growth of global demand for soy, iron ore, beef and other Brazilian products.

“Um aumento do investimento estrangeiro direto, inclusive a compra de ações e títulos por não residentes, provocou alta do valor do real, aumentando o poder de compra do Brasil no exterior.”

“The growth in foreign direct investment, including stocks and bonds bought by non-Brazilians, caused the real to appreciate in value, increasing Brazil’s purchasing power abroad.”

“O real chegou a 1,711 por dólar na quinta-feira, sua maior valorização desde 1999”, destaca o jornal americano.

“The real reached 1.711 on the dollar on Thursday, its highest level since 1999,” the American newspaper notes.

Oh, for the days when the dollar was nearly R$4.

O jornal comenta ainda que as reservas internacionais alcançaram a alta recorde de US$ 171,6 bilhões em janeiro, mais do que dez vezes mais do que os US$ 17 bi de quando Lula assumiu o governo.

The Times also notes that foreign reserves reached a new record of R$171.6 billion in January, more than 10 times than when Lula was sworn in as president.

“Nas últimas semanas, o mercado de ações do país recuperou quase as perdas contraídas com a queda generalizada dos mercados mundiais em janeiro, e está chegando perto da alta recorde de dezembro.”

“In recent weeks, the Brazilian stock market has nearly completely recovered losses from the general fall-off in global markets in January, and is approaching the record set in December.”

Mas, apesar da boa notícia, o país ainda enfrenta desafios, conclui o jornal: “O desaquecimento econômico global poderá testar se os esforços do Brasil para diversificar seus mercados de exportação e acumular reservas foram suficientes para salvaguardar o crescimento a longo prazo, dizem analistas.”

But despite the good news, Brazil still faces challenges, the newspaper concludes: “The cooling off of the global economy may test whether Brazil’s efforts to diversify its exports and accumulate reserves were enough to guarantee long-term growth, analysts say.”

Anonymous analysts speaking in the subjunctive mood. Is there any bigger waste of time?

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