Brazil calls for more financial clout for emerging nations
Brazilian property investors could be interested to hear that Brazil has demanded that emerging nations are given a greater role in the International Monetary Fund (IMF) and World Bank, it has been reported.
A statement made from the Latin American nation’s economy ministry to a G20 meeting of finance ministers and bank chiefs also called on more to be done to tackle the global crisis.
Economy Minister Guido Mantega is quoted by the Economic Times as saying: "This is an issue that has not been resolved yet, but the G20 is a strong candidate to coordinate actions."
He added that the G7 is not sufficiently capable of dealing with the global turbulence being experienced.
Meanwhile, those considering buying property in Brazil could be interested to hear that the nation’s shares jumped by more than five per cent today (November 10).
Led by gains in commodity stocks, Sao Paulo’s main stock index, the Bovespa, surged by 5.3 per cent, according to Reuters.
