Organized for over a decade, the Brazil Summit is one of the most important events in the Chamber’s annual calendar. The discussion provided by the conference this year highlighted important issues that will play a major role in helping Brazil to overcome the challenges it faces today.
As we advance in Brazil’s 2022 election year, hope for progress on the policy front fades. In fact, further electioneering deterioration is to be expected, as the current fracas over the leadership of Petrobras illustrates. Growth in 2022 will be mediocre, near-zero—as it has been, on average, over the last decade. And the new administration in 2023 is likely to face an uphill battle to keep the economy from a recession. The international backdrop has deteriorated with Russia’s invasion of Ukraine, as well as with the increase in inflation in the United States and Europe. Economic authorities face these external developments – although some of them work in Brazil’s favor, such as higher commodity prices – as well as internal developments. The Central Bank of Brazil anticipated the increase in inflation and started tightening monetary policy before any other major central bank. Contractionary monetary policy is already binding for growth, while inflation has peaked but stays high. Brazil’s fiscal performance – boosted by inflation – has outperformed across emerging markets and developed markets, but deep structural problems and relentless pressure on spending remain. How will politics and policies shape up in coming years to reap (or not) the benefits of yet another substantial boost from commodities?
This year we brought together BNDES President Gustavo Montezano; the new representative of the Ministry of the Economy in Washington, DC Carlos da Costa; and macroeconomic, political, and M&A experts to share their views on Brazil’s prospects. The Summit is an informative half day of speakers, debates, and panels with leading representatives from Brazil.
Please watch the highlight video of this timely and informative annual conference.
Carlos Da Costa, Chief Representative, Foreign Office, Ministry of Economy of Brazil
Gustavo Montezano, President, BNDES
Brazil Economic and Political Outlook
Drausio Giacomelli, Head of Emerging Markets Research, Deutsche Bank
Paulo Vieira da Cunha, Partner, VERBANK Consulting, LLC
Cassiana Fernandez, Chief Economist for Brazil, J.P. Morgan
Christopher Garman, Managing Director for Latin America, Eurasia Group
Ana Madeira, Chief Economist for Brazil, HSBC
Samar Maziad, Vice President, Senior Analyst, Moody’s
Maurizio Levi-Minzi, Partner, Debevoise & Plimpton LLP
Pedro Whitaker de Souza Dias, Partner, Mattos Filho
Felipe Bittencourt, Head of Financial Advisory, Vinci Partners
Fabio Mourão, Managing Director and Head of M&A Brazil, UBS
Luciana Pietro Lorenzo, Partner, Mattos Filho
Format: Webinar via Zoom