03 October 2009

Brasil's Stocks, Currency Rally After Olympic Bid Win.

BLOOMBERG/
“Improving roads, stadiums, there is going to be a significant boost to growth,” Citigroup Inc. Latin America equity strategist Geoffrey Dennis said in a phone interview from New York. “Brazil is arriving. It has arrived in the global stage. This is a kind of reward for Brazil’s excellent policy.”
"The games will help sustain Brazil’s economic growth by injecting $51.1 billion into Latin America’s largest economy through 2027 and add 120,000 jobs annually through 2016, according to studies by a Sao Paulo business school for the Ministry of Sports. Brazil plans $11 billion of investments as host, more than any other of the bidding cities."