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Moody’s Negative on Petrobras

Dec 18, 2012

Moody’s has lowered the outlook on Petrobras’ A3 rating to negative from stable, it says. The move reflects the state-controlled oil producer’s rising debt levels and the uncertainty over the timing...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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