Sovereign Profile

Sovereign Profile

Brazil

Brazilian Bailout After months of increasing volatility and a crashing currency in Brazil, the International Monetary Fund signed off on a $30 billion rescue package for the beleaguered country. The World Bank  and the Inter-American Development Bank  also came through with $3 billion in emergency financing. The real, Brazil's currency, and government bonds came under severe market pressure in July and August, driving up the size of the government's debt and forcing the authorities to reduce the debt's maturity structure. This further undermined investor confidence with the approach of October's presidential elections, which the government's

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