By Paulo Trevisani
NEW YORK--Brazil's President Dilma Rousseff said Monday that a
more business-friendly environment is needed in Latin America's
largest economy to attract the investment it needs to restore
growth.
"We need to reduce the risks of doing business in Brazil," she
said in an interview in New York, as she began a visit to the U.S.
aimed at drawing investors and to meet with President Barack Obama
in Washington.
Her task is complicated by poor economic conditions at home.
Annual inflation is running at 8.8% despite high interest rates,
with the benchmark rate at 13.75%. Economists forecast an economic
contraction this year. But Ms. Rousseff said Brazil still has
strong fundamentals that should attract long-term investors.
Her visit comes amid a widening investigation into alleged
price-fixing and corruption surrounding government-controlled oil
giant Petróleo Brasileiro SA, or Petrobras . Several Brazilian
companies are being investigated in connection with the scandal.
Some are cooperating with investigators; some have denied
wrongdoing. On Monday,
The president and some of her ministers are in New York to pitch
to investors a package of infrastructure works they hope will draw
U.S. investors.
Ms. Rousseff said more trade liberalization is needed to prod
Brazilian companies to increase productivity.
Ms. Rousseff is scheduled to have dinner with Mr. Obama on
Monday evening and to have working meetings in Washington on
Tuesday. She will then head to the West Coast to meet with people
in the technology industry.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
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