Tuesday, July 11, 2023

Rock This Town Festival wins second edition with great national and international attractions to pack Elvis and rockabilly fans.









Monica Guimarães - CEO's Rockers in Brazil is promoting the Rock This Town event in Ribeirão Pires, during Rock Week, on July 15th and 16th. The event takes audiences back to the 1950s, with four bands playing rockabilly and rock and roll classics.


In addition to the bands, the event will feature five pin-ups to take pictures with the audience, two covers of Elvis Presley from the 50s and five couples of dancers performing typical steps of the time.


Rock This Town is an opportunity to relive the energy and style of the 1950s with live music, dancing and lots of fun. Don't miss the chance to be part of this unique and remarkable event.


Saturday, July 8, 2023

 

Brazil’s New Fiscal Framework:

How Credible Is Fiscal Rule?

 
Thursday, July 13, 2023
9:00 to 10:30 a.m.
(Eastern Time - U.S. and Canada)
ZOOM WEBINAR
Policy credibility is crucial to successful outcomes in almost all areas, from imposing speed limits to avoiding settlements in flood areas. If people do not believe authorities will follow through on policy promises, they will act as if there is no policy, rendering policy ineffective. This is poignantly true with fiscal policy and the implications for monetary policy. If investors and citizens question the government’s ability to spend within a reasonable distance of sustainable increases in debt, they will expect that investors buy less debt, putting upward pressure on interest rates, and sometimes forcing the government to lean on the Central Bank to monetize debt.  The outcome entails high interest rates, accelerating inflation, and slow growth – and Brazil’s history is replete with experiences like these.

Consequently, successive governments have created rules that circumscribe both fiscal and monetary policies, similar to Odysseus strapping himself to the mast of his ship so the Sirens’ song could not seduce him to run the ship aground. Brazil currently has one monetary rule and three fiscal rules. The monetary rule is Inflation Targeting where the Central Bank of Brazil follows a single inflation target with some allowance for unavoidable deviations due to unexpected events. Brazil’s current fiscal rules include: 1) the Fiscal Responsibility Law, 2) the Golden Rule, and 3) the Spending Cap. The Spending Cap – allowing no increase in inflation-adjusted federal government expenditures – is the most effective and credible of the fiscal rules. The Fiscal Responsibility Law did not prevent violations, but did prove credible after the fact by causing various impeachments of executive politicians, including the president. The new Lula administration has proposed to substitute the Spending Cap with the New Fiscal Framework, currently making its way through Congress.

The Chamber brings together a group of experts on Brazilian fiscal law and policy to describe the new and complicated guidelines and evaluate the efficacy of the framework in terms of limiting fiscal deficits; the growth in government debt relative to the size of the economy; and the effects on financial markets, inflation, and growth. 
Please join us for this timely and informative program.
 
Agenda
9:00 - 10:30 a.m. - Panel Discussion and Q&A

 

Opening Remarks:


Paulo Vieira da CunhaPartnerVERBANK Consulting, LLC

 

Moderator:

John H. WelchCEO & FounderResearch for Emerging Markets, Inc. (REM)Professor of EconomicsUniversidade Presbiteriana Mackenzie



Speakers:

Mansueto AlmeidaChief EconomistBTG Pactual

Murillo de AragãoPolitical Scientist, Constitutional Lawyer, and Founder, Arko Advice

Marcos MendesEconomist and Research AssociateInsper

Vilma PintoDirectorIndependent Fiscal Institution (IFI) Federal Senate of Brazil 



 
Registration Information:
 
ZOOM
 
Members: Free
Non-Members: $15
 
Event information will be provided to registrants once registration has been completed.
 
Webinar organized by the Brazilian-American Chamber of Commerce. 
 
 
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