"... Brazil’s bid to wean itself off floating-rate debt, a legacy of 1990s hyperinflation, is faltering as the central bank boosts benchmark borrowing costs from a record low.
The percentage of the government’s 1.59 trillion reais ($896 billion) of debt that was issued at yields tied to the overnight lending rate, known as Selic, climbed to 33.6 percent in May from a record low of 30.7 percent in 2007, according to the Treasury. The increase snaps a decade-long decline that cut the percentage from 62 percent in 1998 and helped the country win investment-grade credit ratings.
The rise in floating-rate debt, which became popular two decades ago when annual inflation climbed above 1,000 percent, may slow Brazil’s efforts to win further rating increases, said Mauro Leos, who heads the Latin America sovereign ratings group at Moody’s Investors Service..."
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O que o artigo diz é que o tempo da tranqüilidade está passando. Nos mercados financeiros se calcula que Meirelles vai sair e com o novo governo (Dilma?) os velhos companheiros tomam o poder. Já o conflito entre o BNDES e BCB era um sinal, e agora novos problemas do financiamento do orçamento novamente surgem. Os mercados financeiros mostram desconfiança.
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