Instituto Fernand Braudel de Economia Mundial - Associado à FAAP

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Agreement with the IMF Does not Equal the BP in 2003

The private sector has been much more affected by the closing of international markets than the public sector

Author: Marcelo Allain | October 2002

The Balance of Payments (BP) is undergoing a major adjustment due to the international landscape since May of this year. While no event as dramatic as the attack on the twin towers occurred in that month, the ethical crisis caused by accounting fraud and forecasts reducing prospects for U.S. growth have brought a strong aversion to risk in global portfolios.

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