Brazil will become less corrupt and will attract more investors, says World Economic Forum CEO

04/07/2017 - 13h58

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MARIA CRISTINA FRIAS

COLUMNIST AT FOLHA

ELIANE TRINDADE

EDITOR OF THE SOCIAL ENTREPRENEUR PRIZE

Klaus Schwab, the founder and executive president of the World Economic Forum, was optimistic when it came to Brazil, and believes that the country is demonstrating promising signs of economic recovery.

However, it is important that the "country doesn't discard everything it has obtained over these past 18 months". "The country must implement the necessary reforms and make sure that the corruption scandals that emerged become a thing of the past", he said.

LATIN AMERICA

"Currently, I see a smaller emphasis on globalization. We will see a higher degree of regionalization – a stance that is taken not as a form of cooperating, but of competing with ideologies that are more open to the kinds of reforms that could actually lead to a stronger Latin America".

BRAZIL

"There are signs that Brazil's economy is starting to improve, given the increases in the stock market and the regaining of investors' trust. These are promising indicators, however, there's still a lot of work that needs to be done".

"The main challenge is to overcome political fragmentation in the country. The recent corruption scandals have tarnished Brazil's reputation, yet there are still important efforts being made to try and resolve these issues, and these efforts will be of great help. I'm an optimist when it comes to Brazil's future".

"The country mustn't discard everything it has obtained over these past 18 months. But, of course, the country must make sure that the corruption scandals that have come to light don't repeat themselves in the future. Witnessing Brazil's independent judiciary has been quite impressive. We are going to see a country that is less corrupt".

Translated by THOMAS MATHEWSON

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