June 13, 2014
Stumbles are part of Brazil’s awkward advance, asserts Nancy Birdsall, president of the Center for Global Development and former executive vice president at the Inter-American Development Bank. “It’s hard to be a middle-income country that’s reaching” to be a first world economy…. “When you reach higher, you get there, maybe with a little delay.”
“They have so much difficulty spending public money well,” and the nation’s infrastructure has “always been Brazil’s Achilles heel. That’s very obvious now, [with] the World Cup and the Olympic games coming.”