Brazil Sub-Sovereigns Need Broader Debt Alternatives
Jun 15, 2012
Reforms are needed to give Brazilian states and municipalities the ability to issue debt to make investments necessary to improve infrastructure, leaders say. The means to attract investment, particularly foreign funds given Brazil's low savings rate, are too restricted to get the country's planned projects completed on time. “The moment one of the states wants to do something it is in conflict, because it has to be authorized [federally],”...
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