In March, the current account deficit reached USD1.6bn, well below the USD4.3bn deficit seen in Mar'08 but larger than the $611 deficit posted in February. The key culprit for this worsening was the increase in profit remittances by multinational companies:
“Profit remittances rose to $1.76 billion in March from $1.1 billion in February as multinational subsidiaries sent money home to parent companies to help cover for losses in other parts of the world. “
Brazil's Current Account Showing Effects Of Global Crisis (WSJ)
“Profit remittances rose to $1.76 billion in March from $1.1 billion in February as multinational subsidiaries sent money home to parent companies to help cover for losses in other parts of the world. “
Brazil's Current Account Showing Effects Of Global Crisis (WSJ)
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