Fitch downgrades Brazilian bonds to junk; investors could dispose of 20bn in debt

Thursday, December 17th 2015 - 07:56 UTC

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Fitch Ratings downgraded Brazil government bonds to junk on Wednesday, citing rising concerns about an economic and political crisis that threatens to push President Dilma Rousseff from office and scuttle efforts to close a gaping fiscal deficit. Read full article

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Dilma is holding Brazil back.
Dec 17th, 2015 - 08:53 am - Link - Report abuse 0
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yankeeboy
I laughed last year when they said it would only last a year and they'd be back on track.
This is s snowball rolling downhill getting bigger and more dangerous.
PBR better start liquidating quicker.

I think its funny how a few years ago WB, which is full with Progs, crowed about Venezuela and Brazil “lifting people out of Poverty” calling it a miracle and everyone should jump on the bandwagon. Nary a peep from them now as this new prosperity is proving to be false and unsustainable.
They will drag the real middle class into poverty. with these terrible policies.
Just watch.
Dec 17th, 2015 - 12:02 pm - Link - Report abuse 0
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Brasileiro
This was the best news of the year! Brazil is definitely no longer the country of speculation and becomes the country of production. We are working for the dismissal of Levy and Tombini. We want SELIC interest rates lower than 4%. Our goal is to keep the dollar above 3.80 reais. We also want a law which is being processed in Congress is approved prohibiting the transfer of any type of information to rating agencies that are not associated with the BRICS Bank.

This will ensure that speculative money will not return to Brazil. And ensure that Real remains at levels that provides more investments in the productive sector oriented to export mainly to the giants BRICS.
Dec 17th, 2015 - 01:53 pm - Link - Report abuse 0
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MK8 Torpedo
Except the giant bricks have no money.

Russia's economy is oil based.

South Africa is going down the tubes.

Brazil ditto.

China's economy is slowing down.

India no idea.
Dec 17th, 2015 - 02:35 pm - Link - Report abuse 0
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Jack Bauer
Knowing now, that the BRasshole works in an agricultural coop, is it explained why he favours a weak Real (exports), around the current rate of R$ 3,80 to the USDollar. As well as favouring a low SELIC rate, so that his Coop can get cheap financing. The truth is, like all 'petistas', he couldn't care less whether it's good or bad for Brazil as long as he is doing alright.
The fact though, is that the agribusiness sector has been doing relatively well, before and despite the crisis, and has not had to depend on a devalued Real to survive. Can't say that about the industrial sector, that is now at it's lowest production level in 20 years, with the result of massive unemployment.
As to the other members of the BRIC, considering the situation they are in, they aren't going to be much help.
Dec 17th, 2015 - 09:46 pm - Link - Report abuse 0
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ElaineB
@4 India is by far the best of the bunch. They still have huge problems with poverty but they are where I would put my money out of the five.
Dec 18th, 2015 - 12:31 pm - Link - Report abuse 0
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yankeeboy
India is still trying to get people to stop pooping in the streets.
They have a long way to go before they're considered civilized.
Dec 18th, 2015 - 05:56 pm - Link - Report abuse 0
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MK8 Torpedo
India still gets economic aid from the UK.
Crazy as it can afford a space program!
Dec 18th, 2015 - 07:24 pm - Link - Report abuse 0
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