Frankel of Merryl Lynch says Brazil risk is exaggerated

Emerging Markets Economy, Apr 8, 2003

Pedro Malan, the minister of Finance, Celso Lafer, the minister of Foreign Relations and Arminio Fraga, the president of the Central Bank, met yesterday with Jacob Frankel, the director for international investments at Merryl Lynch.

Frankel said that the Brazil risk is exaggerated, explaining that the Brazilian economy is good and its fundamentals are solid. "Sincerely, there are few teams anywhere in the world that can be compared in terms of quality with the Brazilian economic team. They have a well-defined economic strategy which has been conducted well for some time."

According to Agencia Brasil, Frankel also said that as for the elections, the way to reduce market anxiety is to make government plans clear. The executive of Merryl Linch also met with Brazil president, Fernando Henrique Cardoso. - (EMEconomy.com)