LatAm Daily | Brazilian economic activity is unchanged and GDP will contract again in 3Q15

Summary

Economic activity in July in Brazil remained unchanged, and despite this indicator being above our forecasts, we continue to expect a contraction in GDP in 3Q15 due to political and economic issues. In Colombia the government guarantees half of the external resources with an issuance of USD1.5bn in 10 year bonds. September’s IPCA-15 in Brazil will be released today.

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