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FACTBOX-Emerging BRIC economies as global crisis bites

Tue Dec 16, 2008 6:43pm IST
 
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Dec 16 (Reuters) - Economic data from the key BRIC emerging markets of Brazil, Russia, India and China is becoming increasingly grim as the global financial crisis bites.

Equity markets in all have slumped in value this year while currencies in Brazil, Russia and India have come under pressure. Those investors who are beginning to circle again particularly like China, with almost all viewing Russia worst. [ID:nLL320634]

Below are key facts and figures for the BRIC economies.

BRAZIL

- Government says 2009 growth of 4 percent remains feasible, down from between 5 and 5.5 percent this year -- although the finance ministry does not rule out a recession in the current and next quarter. [ID:nN15523782]

- The Brazilian real (BRBY: Quote, Profile, Research) has lost roughly a third of its value since hitting a nine-year high in August in very volatile trade, damaged by corporate losses, capital flight and slumping commodity prices.

- But reserves remain slightly higher than in September at more than $200 billion, mainly on the gains in value in U.S. Treasuries held by the Brazilian government.

- Brazil's central bank last week kept interest rates steady at 13.75 percent -- the highest in almost 2 years -- but with mounting expectations of cuts to come.  Continued...

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