Brazil Waiting for a More Stable Market to Issue Bonds Overseas

Arno Augustin Brazil's National Treasury secretary, Arno Augustin, on disclosing financial results for November, said that it should not take long for Brazil to return to issuing bonds on the international market. However, he added that it is necessary to overcome the financial crisis.

The secretary considered that the country has no need to collect international funds for extension of the debt and that, therefore, it may wait for the international scenario to become more stable.

"Our foreign collection program is turned to the improvement of the profile of our foreign debt and also to the establishment of parameters for companies themselves to be able to make international bond issues. There was a moment in which the market was very volatile and turbulent, and that is still going on to a certain extent. As soon as we find market conditions appropriate, we may return to the international market."

This year, the National Treasury made an international issue of Global 2017s (bonds in dollars mature in 2017) for the value of 525 million Brazilian reais (US$ 221 million). The funds were collected in the North American, European and Asian markets.

Mexico recently managed to harvest funds on the foreign market, a fact that the secretary considered positive. The Mexican issue shows that some emerging nations, among them Brazil, are generating greater international confidence. In the not-so-long run, the foreign market may return to conditions that make it capable of financing emerging nations.

ABr

Tags:

Ads

You May Also Like

Brazil President Hints He Might Choose a Woman to Succeed Him

The president of Brazil, Luiz Inácio Lula da Silva, said he would be choosing ...

Brazil’s Plan to Guarantee 4% Growth in 2009

Brazil announced a series of measures to stimulate the economy and try to strengthen ...

Giant Petrobras to Buy 42 Ships Made in Brazil

Brazil’s Transpetro, subsidiary of Petrobras in the transport sector, launched November 25 an edict ...

Hopes for Lower Interest Give Brazilians Stocks a Push

Latin American stocks were mixed to higher, with Brazilian shares gaining on hopes the ...

World Experts Discuss Alternative Energy in Brazil

Objective paths for the large-scale application of renewable energy sources is one of the ...

In Dramatic Shift, Brazil’s 80% in Favor of a Gun Ban Shrinks to 41%

With two final polls showing voters’ decisive tendency to vote against the ban of ...

An Amazon Adventure

It was raining—they have two seasons here, rainy and wet— but the fine misty ...

The Arrival of Cuban Doctors Is Revealing the Cruel Face of Brazil’s Medical Class

Brazil’s newspapers were surprised by the Brazilian government’s decision to import 4000 doctors from ...

Brazil on the Verge Again of Regulating Journalists’ Work

A new federal law regulating the work of journalists that was approved by the ...

Best Performance in Seven Years for Brazil’s Small Businesses

Revenues of micro and small businesses in the southeastern Brazilian state of São Paulo ...