Brazil & Southern Cone - February 2025

This February edition of the Latin American Regional Report: Brazil & Southern Cone begins with a look at the resurgence of inflation concerns in Brazil. President Luiz Inácio Lula da Silva had hoped that a cocktail of fiscal stimulus, structural reforms, and other measures would generate a cycle of growth just like the one that helped make him the country’s most popular leader ever during his previous terms (2003-2011). Instead, Lula got only momentary growth and is now faced with lasting inflation that is eroding consumer purchasing power and, in turn, forcing the central bank to slam on the brakes by raising interest rates. 

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