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Brazil’s Derivative IOF Could Encourage Global BRL

Jul 29, 2011

Neither bankers nor investors see the Brazilian government’s new IOF tax on derivatives diminishing the attractiveness of overseas issuance by the country’s companies. Indeed, the move may be another reason for accounts to migrate to the global BRL market as they look to avoid the increasingly onerous tax burdens being imposed onshore. “If the...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management


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