A big vote of confidence on Brazil came less than 48 hours before our exclusive interview with Brazilian President Luiz Inacio Lula da Silva. Moody's Investors Service upgraded the country's credit rating to an investment grade rating of Baa3. Standard and Poor's and Fitch Ratings had already given Brazilian assets their thumbs up last year.
Among the G20 economies, Brazil is one of the few that emerged from recession in the second quarter. South America's largest economy recorded GDP growth of 1.9% from the previous quarter. But unlike many countries, Brazil only experienced a short recession. President Lula is confident about his country's prospects, saying he expects economic growth of 5% in 2010.