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Brazil is perhaps one of the few countries in the world that hasn’t been talking about recession. The R word is not being mentioned in any of the large newspapers in the country. Moreover, Brazil’s economic team will unveil new credit measures for exporters suffering the consequences of the liquidity crunch. “For now, activity levels haven’t come down,” said Finance Minister Guido Mantega. “I believe there will be a slowdown in consumption and in activity level in Brazil. But we will not have a recession.” The main news agencies in Brazil have also reported that the series of measures the central bank has taken to minimize the impact of the crisis in the South American giant and to ease the liquidity crunch started by¬† investors not willing to take too much risks at the moment. This latest move is aimed at Brazilian exporters.

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