IBOV 177,681 ▲ 2.86% IPSA 11,032 ▲ 0.06% IPC MEX 66,433 ▲ 0.49% MERVAL 3,280,407 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL5.11▼ 0.19% USD/MXN17.46▼ 0.47% USD/CLP923.17▼ 0.49% USD/COP3,247▼ 2.86% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.09% BRENT 76.03 ▼ 0.35% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.12% GOLD 4,120 ▼ 0.26% SILVER 60.16 ▼ 0.37% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.25 ▲ 1.50% ITUB4 44.25 ▲ 3.90% BBDC4 18.85 ▲ 4.72% ABEV3 15.78 ▲ 0.38% BBAS3 20.56 ▲ 2.80% B3SA3 15.41 ▲ 4.19% WEGE3 46.51 ▲ 1.68% PRIO3 55.40 ▼ 0.38% SUZB3 41.37 ▲ 0.83% RENT3 40.91 ▲ 3.83% AZZA3 19.19 ▲ 3.95% CSAN3 4.05 ▲ 4.92% RAIZ4 0.35 ▼ 5.41% PCAR3 2.74 ▼ 0.72% GMAT3 3.95 ▲ 0.51% PSSA3 54.70 ▲ 2.53% CVCB3 1.26 ▲ 0.80% POSI3 4.01 ▲ 4.16% SLCE3 14.06 ▲ 1.96% NATU3 8.56 ▲ 1.18% BRKM5 6.60 ▲ 3.77% RANI3 8.02 ▲ 2.04% CSNA3 5.18 ▲ 7.92% CMIN3 5.18 ▲ 7.25% USIM5 8.44 ▲ 1.08% GGBR4 22.91 ▲ 1.91% ENEV3 27.44 ▲ 4.73% CPFE3 47.87 ▲ 3.41% CMIG4 11.39 ▲ 2.80% EQTL3 40.93 ▲ 3.59% LREN3 14.60 ▲ 3.18% VIVT3 35.85 ▲ 3.91% RAIL3 14.36 ▲ 4.44% KLABIN 17.50 ▲ 0.57% RAIA DROGASIL 18.76 ▲ 3.47% RDOR3 35.90 ▲ 2.13% HAPV3 10.55 ▲ 4.77% FLRY3 16.46 ▲ 4.51% SMTO3 16.30 ▲ 1.56% UGPA3 30.81 ▲ 2.36% VBBR3 32.88 ▲ 2.43% BBSE3 40.28 ▲ 2.55% BPAC11 58.98 ▲ 5.93% CURY3 34.16 ▲ 4.46% AERI3 2.09 ▲ 1.46% VIVARA 23.62 ▲ 4.61% COMPASS 25.50 ▲ 3.32% VAMOS 3.09 ▲ 4.39% SANB11 27.44 ▲ 4.53% ASAI3 8.92 ▲ 5.44% SBSP3 31.03 ▲ 3.43% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 — 0.00% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 68,057 ▼ 1.51% COPEC 6,091 ▲ 1.18% BSANTANDER 78.31 ▲ 1.05% FALABELLA 5,942 ▲ 1.56% ENELAM 85.21 ▲ 1.25% CENCOSUD 2,048 ▼ 0.42% CMPC 1,109 ▲ 1.32% BANCO CHILE 187.57 ▲ 0.30% LATAM AIR 26.20 ▼ 0.76% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,400 ▲ 3.67% MIRGOR 17,375 ▲ 1.02% COME 46.00 ▲ 1.28% LOMA NEGRA 3,580 ▲ 2.36% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.58 — 0.00% BANCOLOMBIA 82.95 — 0.00% GRUPO AVAL 5.07 — 0.00% CREDICORP 400.81 — 0.00% SOUTHERN COPPER 175.83 — 0.00% BUENAVENTURA 30.00 — 0.00% MERCADOLIBRE 1,852 ▼ 0.01% NUBANK 13.79 ▲ 0.88% XP 16.87 ▲ 2.80% PAGSEGURO 9.25 — 0.00% STONE 11.00 ▲ 0.37% GLOBANT 29.96 — 0.00% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 — 0.00% ASUR 285.12 — 0.00% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.01 — 0.00% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 — 0.00% PETROBRAS ADR 17.31 ▲ 1.64% VALE ADR 14.50 ▲ 1.97% ITAU ADR 8.62 — 0.00% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.07 — 0.00% CSN 1.02 ▲ 6.32% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 — 0.00% BTC 63,755 ▲ 0.89% ETH 1,791 ▲ 2.69% SOL 77.81 ▼ 0.30% XRP 1.10 ▲ 0.96% BNB 575.30 ▲ 1.20% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.59% AVAX 6.73 ▲ 0.70% LINK 7.90 ▲ 2.16% DOT 0.87 ▲ 5.44% LTC 44.59 ▲ 1.88% BCH 245.20 ▲ 3.12% TRX 0.33 ▼ 0.38% XLM 0.19 ▲ 1.75% HBAR 0.07 ▼ 0.23% NEAR 1.87 ▼ 2.68% ATOM 1.59 ▲ 2.59% AAVE 96.48 ▲ 5.73% SELIC 14.25% EMBRAER 84.71 ▲ 1.01% EMBRAER ADR 66.02 ▲ 0.72% JBS 11.91 — 0.00% JBS BDR 60.60 ▲ 0.92% MBRF3 15.61 ▲ 1.30% MBRFY 2.97 ▼ 1.00% INTER 5.82 — 0.00% EGX 52,312 ▲ 0.54% USD/ZAR16.31▼ 0.12% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.72▼ 0.41% USD/CNY6.78▼ 0.25% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD1.14▼ 0.10% GBP/USD1.34▲ 0.02% SPX 7,573 ▲ 0.39% DJI 52,637 ▲ 0.29% NDX 29,825 ▲ 0.33% RUT 2,980 ▼ 0.41% TSX 35,305 ▲ 0.30% VIX 15.08 ▼ 4.80% USD/CAD1.42▼ 0.09% US10Y 4.5690 ▲ 0.66% IBOV 177,681 ▲ 2.86% IPSA 11,032 ▲ 0.06% IPC MEX 66,433 ▲ 0.49% MERVAL 3,280,407 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL 5.11 ▼ 0.19% USD/MXN 17.46 ▼ 0.47% USD/CLP 923.17 ▼ 0.49% USD/COP 3,247 ▼ 2.86% USD/PEN 3.39 ▼ 0.31% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.48 ▼ 0.12% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.39% USD/TTD 6.75 ▲ 1.44% EUR/BRL 5.83 ▼ 1.09% BRENT 76.03 ▼ 0.35% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.12% GOLD 4,120 ▼ 0.26% SILVER 60.16 ▼ 0.37% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.25 ▲ 1.50% ITUB4 44.25 ▲ 3.90% BBDC4 18.85 ▲ 4.72% ABEV3 15.78 ▲ 0.38% BBAS3 20.56 ▲ 2.80% B3SA3 15.41 ▲ 4.19% WEGE3 46.51 ▲ 1.68% PRIO3 55.40 ▼ 0.38% SUZB3 41.37 ▲ 0.83% RENT3 40.91 ▲ 3.83% AZZA3 19.19 ▲ 3.95% CSAN3 4.05 ▲ 4.92% RAIZ4 0.35 ▼ 5.41% PCAR3 2.74 ▼ 0.72% GMAT3 3.95 ▲ 0.51% PSSA3 54.70 ▲ 2.53% CVCB3 1.26 ▲ 0.80% POSI3 4.01 ▲ 4.16% SLCE3 14.06 ▲ 1.96% NATU3 8.56 ▲ 1.18% BRKM5 6.60 ▲ 3.77% RANI3 8.02 ▲ 2.04% CSNA3 5.18 ▲ 7.92% CMIN3 5.18 ▲ 7.25% USIM5 8.44 ▲ 1.08% GGBR4 22.91 ▲ 1.91% ENEV3 27.44 ▲ 4.73% CPFE3 47.87 ▲ 3.41% CMIG4 11.39 ▲ 2.80% EQTL3 40.93 ▲ 3.59% LREN3 14.60 ▲ 3.18% VIVT3 35.85 ▲ 3.91% RAIL3 14.36 ▲ 4.44% KLABIN 17.50 ▲ 0.57% RAIA DROGASIL 18.76 ▲ 3.47% RDOR3 35.90 ▲ 2.13% HAPV3 10.55 ▲ 4.77% FLRY3 16.46 ▲ 4.51% SMTO3 16.30 ▲ 1.56% UGPA3 30.81 ▲ 2.36% VBBR3 32.88 ▲ 2.43% BBSE3 40.28 ▲ 2.55% BPAC11 58.98 ▲ 5.93% CURY3 34.16 ▲ 4.46% AERI3 2.09 ▲ 1.46% VIVARA 23.62 ▲ 4.61% COMPASS 25.50 ▲ 3.32% VAMOS 3.09 ▲ 4.39% SANB11 27.44 ▲ 4.53% ASAI3 8.92 ▲ 5.44% SBSP3 31.03 ▲ 3.43% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.06 ▲ 0.23% TELEVISA 9.74 ▲ 2.63% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 — 0.00% OMA 235.73 ▼ 0.95% KOF 182.08 ▲ 0.65% GRUMA 282.99 ▲ 0.14% KIMBER 38.13 ▼ 0.81% SQM-B 68,057 ▼ 1.51% COPEC 6,091 ▲ 1.18% BSANTANDER 78.31 ▲ 1.05% FALABELLA 5,942 ▲ 1.56% ENELAM 85.21 ▲ 1.25% CENCOSUD 2,048 ▼ 0.42% CMPC 1,109 ▲ 1.32% BANCO CHILE 187.57 ▲ 0.30% LATAM AIR 26.20 ▼ 0.76% YPF 74,450 ▼ 1.75% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,400 ▲ 3.67% MIRGOR 17,375 ▲ 1.02% COME 46.00 ▲ 1.28% LOMA NEGRA 3,580 ▲ 2.36% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,248 ▲ 3.09% ECOPETROL 15.58 — 0.00% BANCOLOMBIA 82.95 — 0.00% GRUPO AVAL 5.07 — 0.00% CREDICORP 400.81 — 0.00% SOUTHERN COPPER 175.83 — 0.00% BUENAVENTURA 30.00 — 0.00% MERCADOLIBRE 1,852 ▼ 0.01% NUBANK 13.79 ▲ 0.88% XP 16.87 ▲ 2.80% PAGSEGURO 9.25 — 0.00% STONE 11.00 ▲ 0.37% GLOBANT 29.96 — 0.00% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 — 0.00% ASUR 285.12 — 0.00% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.01 — 0.00% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 — 0.00% PETROBRAS ADR 17.31 ▲ 1.64% VALE ADR 14.50 ▲ 1.97% ITAU ADR 8.62 — 0.00% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.07 — 0.00% CSN 1.02 ▲ 6.32% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 — 0.00% BTC 63,755 ▲ 0.89% ETH 1,791 ▲ 2.69% SOL 77.81 ▼ 0.30% XRP 1.10 ▲ 0.96% BNB 575.30 ▲ 1.20% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.59% AVAX 6.73 ▲ 0.70% LINK 7.90 ▲ 2.16% DOT 0.87 ▲ 5.44% LTC 44.59 ▲ 1.88% BCH 245.20 ▲ 3.12% TRX 0.33 ▼ 0.38% XLM 0.19 ▲ 1.75% HBAR 0.07 ▼ 0.23% NEAR 1.87 ▼ 2.68% ATOM 1.59 ▲ 2.59% AAVE 96.48 ▲ 5.73% SELIC 14.25% EMBRAER 84.71 ▲ 1.01% EMBRAER ADR 66.02 ▲ 0.72% JBS 11.91 — 0.00% JBS BDR 60.60 ▲ 0.92% MBRF3 15.61 ▲ 1.30% MBRFY 2.97 ▼ 1.00% INTER 5.82 — 0.00% EGX 52,312 ▲ 0.54% USD/ZAR 16.30 ▼ 0.02% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.74 ▼ 0.38% USD/CNY 6.7761 ▼ 0.23% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1419 ▼ 0.13% GBP/USD 1.3400 ▼ 0.03% SPX 7,573 ▲ 0.39% DJI 52,637 ▲ 0.29% NDX 29,825 ▲ 0.33% RUT 2,980 ▼ 0.41% TSX 35,305 ▲ 0.30% VIX 15.08 ▼ 4.80% USD/CAD 1.4156 ▼ 0.07% US10Y 4.5690 ▲ 0.66%
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By · March 23, 2010 · 4 min read

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Opinion, by Nicholas Storey

RIO DE JANEIRO – Brazil gets an undeservedly bad international press in certain respects. This, undoubtedly, deters certain international tourists and it certainly deters some international investors.

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Maybe the strength of the deterrent can be judged from the fact that investment returns in the UK are at a rate of around 0.5 percent per annum but people will not seize the opportunity to invest in Brazil (just buy a Brazilian company off the shelf, open a bank account, send the money through the Banco Central do Brazil, and invest it at around one percent per month, compound).

Part of the negativity against Brazil springs from the reports of violent crime and alleged corruption and part of it springs from the self-perpetuating notion that Brazil is an ‘emerging’ third world state which lacks any real socio-economic infrastructure and order. There is much here to examine.

The first thing that I turn to is borne out of personal experience of socio-economic infrastructure here in a small town of sixty thousand people in the State of Rio de Janeiro (swelling to up to two hundred and fifty thousand people during certain holiday periods). I admit that my real experience is limited to this one town in one state but it is a town and a state more or less chosen at random from them all and if it is not representative of other places, no doubt, there will be protests!

First of all, (and thank God), I have never seen or experienced any kind of violence here or even heard of any from the many people that I know in the town. Not all of Brazil falls within the bounds of the favelas or Sao Paulo and Rio de Janeiro. Moreover, violent crime in Brazil seems to be led by need or greed rather than mere pleasure: the torture and murder of children for apparent pleasure as increasingly reported in the West smacks of a civilization on the precipice.

About the alleged corruption in Brazil, I know nothing as I am not in a position to do so. However, the exposure of certain British Members of Parliament subsidizing their personal lifestyles out of the Parliamentary ‘expense’ accounts (as recently revealed in a flurry of adverse publicity), stinks and may well be just the tip of the iceberg there.

Secondly, there is no free primary health care. Wrong. There is a health center that is open and staffed ‘twenty four seven’ for minor emergency and simple treatments, manned by receptionists, a doctor and a nurse. The qualified staff may or not be there all the time but whenever I have needed to go there, they have been there and there is seldom anything much of a queue (line). My father tells me that there is always a waiting period in the UK now and that for an ordinary appointment to see a doctor, patients have to wait two weeks: by then, the condition could well have proved fatal or spontaneously cleared up!

There is even a public hospital which will treat most conditions; again free. I have never been there. I have heard varying accounts of it but I have never seen any reports of patients being admitted only to catch some dirt-borne infection that seems to be a regular report of British National Health Service hospitals.

The dustbin men (garbage men) come every second day. Now they come in some parts of the UK every second week.
This point is a knock-out: there are publicly-funded local day centres for ‘special children’, which is the Brazilian term for those now labeled in the West as mentally or physically ‘challenged’ and also crèches for pre-school-age children.

These places also accept voluntary donations of food and drink and money but the fact of the matter is that, maybe to the world’s surprise, they exist at all. Having visited these centers I can say that they are well-equipped, properly staffed and organized and even lay on transport, for which there is a small monthly charge for ‘bus fuel.

The roads and street lighting are gradually being improved and even ornamental street furniture and trees being brought in. None of this sounds beyond the line that divides the amenities of the unenlightened West from what is set to become a leading world economy and properly put to rest for all time General de Gaulle’s notorious and nasty quip that ‘Brazil is a joke’.

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