NEW YORK (Standard&Poor's) Jan. 16, 2003--Standard&Poor's Ratings Services today issued a new commentary article examining the challenges facing the Federative Republic of Brazil's President Luiz Inácio Lula da Silva and his administration in the year ahead. The article, entitled, "Challenges Ahead for Brazil in 2003," comments on the solid and consistent signals regarding economic policy sent by the new government thus far. "Policy statements by the finance minister and central bank governor highlight a prudent and cautious policy stance," said Sovereign Analyst Lisa Schineller. "However, the government now needs to implement policies and demonstrate its ability to forge effective political alliances in order to extend the improvement in Brazilian asset prices and further enhance the its
