Brazil has sucked in record amounts of capital in part because it is a big beneficiary of booming commodity prices and the global mania for commodity-related investments.

Revenues from tourism and Cuba's main commodity exports have fallen dramatically, and residents report shortages of fruit and vegetables at markets across the capital.

"Things are going to be a lot better this year than a lot of people think," Lars Steffensen, founder and managing director of commodity hedge fund Ebullio Capital Management told Bloomberg.