Brazil Stimulates Local Debt Market

Brazil Stimulates Local Debt Market

Brazil Bonds

Brazil’s government enacted several changes aimed at stimulating the local debt markets. Among the announced changes, the IOF tax on debentures will be eliminated. This does not include the IOF tax levied on foreign investors bringing funds into the country, but a separate tax levied on secondary trading of debentures held for less than 30 days. It will also create a BRL2.1bn fund to buy and sell debentures, adding liquidity to the market. The government will also change the income tax for

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