Elizabeth Johnson

Managing Director, Brazil Research

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Recent Brazil research

* Brazil: Closer to the fiscal precipice, Grace Fan, Elizabeth Johnson, 17 Aug 2017
* Brazil: Is pension reform still possible?, Elizabeth Johnson, Grace Fan, 10 Aug 2017
* Brazil: The cost of Temer’s victory, Grace Fan, Elizabeth Johnson, 3 Aug 2017
* Brazil: Can the market really decouple from the political crisis?, Grace Fan, 28 Jul 2017
* Brazil: Can the market really decouple from the political crisis?, Grace Fan, 28 Jul 2017

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Highway concession auctions still in low gear

Overview

We expect the first projects of President Dilma Rousseff’s massive infrastructure privatization programme to finally come to the auction block in September after countless delays. The government has been forced to increase the project IRRs after intense dialogue with the private sector. But as we warned in our December note, these projects will have no impact on 2013 GDP growth and even if the auctions take place as scheduled in H2/13, these concession sales are also unlikely to...

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