FED lends US$ 30 billion to Brazilian Central Bank

This a very interesting day, the USA central bank has lended US$ 30 billion in US currency in exchange for the same amount of Brazilian currency (of course the exchange rate was used) to help the Brazilian authorities cope with the crunch for dollars in Brazil.

Brazil after many years is finally becoming a predictable economy with very sophisticated and severe controls to maintain inflation under control and reduce the external and internal deficit.

Since 1994 Brazil has been reducing the inflation, reducing the government debts, has repaid the IMF and has been amassing very substantial reserves in US dollars, currently the reserves are US$ 203 billion.

What is really interesting is this kind of operation in Latin America was only done between the FED and the central banks of Brazil and Mexico.

Can anyone imagine how much upset Cristina and Chavez are right now?