Preview

The Petrobras Debt Challenge pages

Powerful Essays
Open Document
Open Document
2639 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Petrobras Debt Challenge pages
The Petrobras Debt
Challenge
A BrazilWorks Briefing Paper
January 2014

A Summary Analysis of
“O Endividamento da Petrobras com o BNDES no
Período Pós-2008 e Impactos Contábeis e
Econômico-Financeiros.”
FGV/IBRE Discussion Paper #36
November 2013
Paula Barbosa
Summarized by
Mark S. Langevin, Ph.D.,
Director of BrazilWorks

BrazilWorks

1718 M Street, #356
Washington, D.C. 20036 USA
Tel. 202-744-0072 brazilworks@gmail.com www.brazil-works.com

BrazilWorks
Analysis and Advisory for Decision Makers

Copyright © 2014 BrazilWorks

The Petrobras Debt Challenge / A BrazilWorks Brie9ing Paper / January 2014

1

The Petrobras Debt Challenge
A BrazilWorks Briefing Paper
January 2014
A Summary Analysis of

“O Endividamento da Petrobras com o BNDES no Período Pós-2008 e
Impactos Contábeis e Econômico-Financeiros.”
FGV/IBRE as Discussion Paper #36
November 2013
Written by Paula Barbosa1
Summarized by Mark S. Langevin, Ph.D., Director of BrazilWorks 2

BrazilWorks provides advisory and consulting services to Brazilian and United States based private sector enterprises, civil society organizations, and policymakers interested in Brazilian market structure, regulatory frameworks, public policies and political risk, and economic development as well as United StatesBrazil relations. BrazilWorks specializes in agriculture, biofuels, capital goods, climate change, defense procurement, energy, healthcare, local content policies, producer association dialogue and cooperation, and international commercial and investment negotiations and policies.
BrazilWorks
1718 M Street, #356
Washington, D.C. 20036 USA
Tel. 202-744-0072 brazilworks@gmail.com www.brazil-works.com

1

Paula Barbosa is an economist. She earned her undergraduate degree from the Federal University of Rio de
Janeiro, a Masters from the Pontifical Catholic University of Rio de Janeiro, and a MBA from INSEAD in France.
She has worked in both financial institutions and multinational petroleum

You May Also Find These Documents Helpful

  • Best Essays

    Brazil Research Paper

    • 4917 Words
    • 20 Pages

    Despite a slowdown in the last couple of years, Brazil has been a remarkable success story in the last decade. Economic growth in the country has led to a rapid expansion of the middle class there – from 66 million people in 2003 to 105 million in 2011 (Hanna, 2012). Per capita GDP grew at an 11.8% compound annual growth rate between 2000 and 2011 (O’Neill, 2012). Building on its strong industrial base, with a wealth of natural resources, Brazil is expected to continue growing strongly in the coming years.…

    • 4917 Words
    • 20 Pages
    Best Essays
  • Good Essays

    Brazil, officially known as the Federative Republic of Brazil, is a South American country which has recently transitioned from a regional to a global power (U.S. Dept. of State, 2011). This is primarily due to the country’s real gross domestic products which have created surging exports and economic growth. The economic growth of Brazil in recent years has lifted tens of millions of Brazilians from poverty to upper middle class citizens (U.S. Dept. of State, 2011). This has increased domestic consumption (a component of aggregate demand) and therefore the increase in the real gross domestic products as a result of the increases in aggregate supply and demand (Editorial Board, 2011).…

    • 1125 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    In July 2002, an investment banker advising Deluxe Corporation must prepare recommendations for the company’s board of directors regarding the firm’s financial policy. Some special considerations are the mix of debt and equity, maintenance of financial flexibility, and the preservation of an investment-grade bond rating. Complicating the assessment are low growth and technological obsolescence in the firm’s core business. The purpose is to recommend an appropriate financial policy for the firm and, in support of that recommendation, to show the impact on the firm’s cost of capital, financial flexibility (i.e., unused debt capacity), bond rating, and other considerations.…

    • 491 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    References: 1- Neves , Pedro. "On the Political and Economic Situation of Brazil." Directorate-General for External Policies of the Directorate B -Policy Department-. (2007): 397-081. <https://docs.google.com/viewer?a=v&q=cache:jcuqvwT_ZRsJ:www.europarl.europa.eu/meetdocs/2004_2009/documents/nt/692/692067/692067en.pdf economic, political and social situation of brazil&hl=en&gl=ca&pid=bl&srcid=ADGEESj5pBjjnVkc0u7wIo1paZ9DdS6Kh4Ws0aaZV_ok__9hpcHWbdOzuRA2zWAHmTYDI32EQLomVU8OhHoSVJ6CEfZHBgXUAJyePf59cAFEEfvreX3PPSzp3s1tRH0cKaF7xDCYiexY&sig=AHIEtbRmo3aDE1xJY_1QBjZQLAIZwR9qUQ>.…

    • 1713 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    Roberto Castaneda received his graduate degree (DBA) in Accounting from Argosy University; (MM/MBA) in Marketing and Finance from Northwestern University, and his undergraduate degree in Accounting and Marketing from DePaul University. He is also a Certified Public Accountant.…

    • 5418 Words
    • 21 Pages
    Satisfactory Essays
  • Best Essays

    Brasil Foods Case Study

    • 3467 Words
    • 14 Pages

    Brazil is the largest country in Latin America and the fifth in the world. Brazil's economy is the most powerful in the region and has a significant impact on world markets due to highly developed agriculture, mining manufacturing and services economic sectors. Brazil is the world's largest producer of coffee and sugar cane, and one of the largest exporters of agricultural products (Business Monitor International (BMI), 2011 1st Q, pp.47-48).…

    • 3467 Words
    • 14 Pages
    Best Essays
  • Powerful Essays

    A Report on Brazil

    • 4490 Words
    • 18 Pages

    Brazil has the world sixth largest economy by nominal GDP. Its economy can be divided into three components: agriculture, industry…

    • 4490 Words
    • 18 Pages
    Powerful Essays
  • Better Essays

    Brazil is the largest country in South America and is the fifth-most populated nation in the world. Brazil also has the seventh-largest economy in the world. The gross domestic product value of Brazil represents 3.93% of the world economy. In 2010, Brazil’s gross domestic product was at an estimated $2.090 trillion and their per capita was at $10,816. In 2012 their gross domestic product was worth 2435.20 billion US dollars. Brazil 's gross domestic product expanded 5.0% year-on-year in the fourth quarter, down from growth of 6.7% in the third quarter and a peak of 8.8% in the second quarter [Fick, J. (2011, March 3)].Their mixed economy and abundance amount of natural resources help contribute to the country’s gross domestic product. Over 30% of the GDP is accounted by steel, computers, aircraft, petrochemicals, and manufacturing automobiles.…

    • 816 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Brazil is the largest country in South America and it has the strongest economy in Latin America. The country has the seventh largest economy in the world by nominal GDP. Brazil is rich in natural resources and it focus on agriculture and industrial power. Despite the improvement on income distribution and bringing the middle class population to 95 million people which is a little bit more than half of the population in the country, poverty in rural areas are still very severe in Brazil. According to Rural Poverty Portal, "In the country as a whole, about 35 percent of the population lives in poverty, on less than two dollars a day." (1) The population in Brazil is about 197 million and with 35 percent of population living in poverty is equal to two times the population in Canada. Most of the poverties in Brazil are concentrated in the North East region of Brazil and it can be considered the single largest concentration of rural poverty in South America. The North East region in Brazil is the undeveloped part of the country where the population have no access to education, health care, technology and even clean water. Several causes of poverty in Brazil are land tenure, lack of access to a good education and also skill training. Through the literary short stories and Brazilian made films, we can somehow picture how different is the life between the lower and higher class families. The inequality is a very big issue in the country and even though the stories and films are fiction, it still shows us a reality that Brazil has been facing for a long period, which is the big gap between the rich and the poor.…

    • 2597 Words
    • 11 Pages
    Good Essays
  • Better Essays

    Soccer in Brasil

    • 1566 Words
    • 7 Pages

    Library of Congress, Federal Research Division, comp. Brazil: a Country Study. Ed. Rex A. Hudson. 5th ed. 1998.…

    • 1566 Words
    • 7 Pages
    Better Essays
  • Good Essays

    First and foremost there is the fiscal ordeal. An escalating public indebtedness is destabilizing expectations, depressing investment spending and deepening the GDP downturn (Chart I). Temer’s first move in this front was well executed: he appointed the strongest economic team in over a decade to help him. Henrique Meirelles, the former Wall Street banker who helped to prop up the credibility of President Lula’s administration when he accepted the job of central bank governor, is the new Finance Minister. Ilan Goldfajn, one of the designers of Brazil’s inflation targeting system in the late 1990’s, will take the helm at the central bank. Other strategic positions, such as the national development bank (BNDES) or the embattled state oil & gas company Petrobras, are being filled by well-trained, high-caliber executives.…

    • 792 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Rother, L. (2010). Brazil on the Rise: The Story of a Country Transformed. Brazil. Palgrave Macmillan;…

    • 1123 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Between Unity and Diversity: Historical and Cultural Foundations of Brazilian Management Introduction Over the past two decades, Brazil has increasingly established itself as one of the world’s foremost emerging economies. As the 8th largest economy in the world and largest in South America (World Bank, 2009), Brazil is among the world’s leading producers of key commodities, as well as a pioneer in areas such as ethanol production and genetically modified crops. As one of the members of the BRICs group of emerging economies (O’Neil, 2001), Brazil is poised to become a major player in the 21st century. As a home country of multinational corporations (MNC’s), internationally recognized companies such as Embraer, JBS-Friboi and AmBev are among the dominant forces in their respective markets. Despite the growing importance of Brazil as an economic power, very little work has been internationally published, in comparison with other BRIC countries, with regards to the dynamics of Brazilian management practices (e.g. Mesquita, 2008). Extant literature tends to focus on specific sectors, (e.g. Mesquita,…

    • 8652 Words
    • 35 Pages
    Powerful Essays
  • Better Essays

    Brazil

    • 3987 Words
    • 16 Pages

    Until the beginning of the 20th century the Brazilian economy was characterized by a succession of cycles, each of them based on the exploitation of a single export commodity: timber (brazilwood) in the first years of colonization; sugarcane in the 16th and 17th centuries; precious metals (gold and silver) and gems (diamonds and emeralds) in the 18th century; and finally, coffee in the 19th. Slave labour was used for production, a situation that would continue until the last quarter of the l9th century.…

    • 3987 Words
    • 16 Pages
    Better Essays
  • Good Essays

    Self Introduction

    • 337 Words
    • 2 Pages

    My name is Alicia Suarez hailing from Argentina, in the heart of South-America. In 2010, I graduated from the National University of Buenos Aires, with a degree of Bachelor of Arts in English Language, with a Specialization in Business English and Translation. I obtained college GPA of 4.…

    • 337 Words
    • 2 Pages
    Good Essays