Henrique de Campos Meirelles assesses the achievements of the Lula administration in leading Brazil out of crisis.
Brazil is living through a time of hope, in which it is re-discussing its past and its present in order to create a new future. Today, it is clear that this new future may be quite different and much better than the one envisaged at the beginning of 2003.

US concern over domestic banks looks set to put back the Capital Accord again, and may jeopardise hopes of a level playing field.

There is growing concern that Venezuela’s banks are ignoring their
private credit portfolios and relying instead on government paper, says
Mike Ceaser.
What happens when a nation’s banking system loses all of its customers
except one? When that nation is Venezuela, and the customer is the
government, the banks thrive. But the morals of this tactic and its
effect on the nation’s economy are being questioned.“Not having access to international markets, which had a very high cost, the state turned to the internal market”

Political upheaval can translate into easy money for the financial sector – despite what the bankers might say, argues Jonathan Wheatley.

Monica Campbell reports from Mexico City on why investment bankers’ optimism has not been dented by the slumping economy and political frustration.