Brazil's corporate governance praised by investor

Brazil's corporate governance standards are higher than those of the other Bric nations, according to a leading fund manager.

In comments reported by Bloomberg, Will Landers of global investment firm BlackRock said Brazil has managed to differentiate itself from Russia, India and China by placing an emphasis on good governance and transparency.

He claimed the South American country's Bovespa stock exchange and the Securities and Exchange Commission, known as CVM, should be recognised for the work they have done in this area.

"We do have clear rules, we do have transparency, we do have companies available [to talk to shareholders]," Mr Landers said of the current situation in Brazil.

The fund manager, who oversees approximately $10 billion (£6.2 billion) in Latin American stocks at BlackRock, was speaking at a Brazilian-American Chamber of Commerce event in New York.

Dominique Strauss-Kahn, chief of the International Monetary Fund, said the Bric economies must now be considered "major players" at a news conference last week.

He made his comments as China was handed an expanded role that makes it the third strongest member of the IMF in terms of voting power.