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:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

With EU Help, Amazonas, Brazil, Creates New Forest Reserves

Governor Eduardo Braga, of the state of Amazonas, Brazil , signed decrees today creating ...

FIFA Complains About Brazil’s Crime, Lack of Hotels, Buses and Good Airports

Jerome Valcke, FIFA’s general secretary, has warned Brazil of the increasing crime rate in ...

Putin in Brazil: Plenty of Nice Words, But Beef Ban Is Still On

On Monday, November 22, during the official visit of Russian President, Vladimir Putin, Brazilian ...

Brazil Deals with Indians after They Go All the Way to the OAS

Complaints by representatives of the local Indian groups in the Volta Grande do Xingu ...

Brazilians in a New Jersey street festival

If I Were Brazilian I Might Also Become an Illegal in the US

I travel to Brazil often on business and most of my travels are in ...

Stinging Gabriel, O Pensador

On his new record Gabriel O Pensador yells, “I don’t sing well. I’m not ...

Brazil’s Suzano Joins Club of Eco Friendly Companies

Suzano Bahia Sul Papel e Celulose S.A., one of Latin America’s largest integrated producers ...

Brazil Ready to Tap Amazon for Drugs and the Land for Fuel

Ahead of US President George Bush's visit, Brazil announced plans to invest almost US$ ...

Brazil Ready to Face a Bolivian Gas Shut-Off

Brazil’s Ministry of Mines and Energy and Petrobras informed, yesterday, that the supply of ...

Judiciary Pointed as Main Obstacle to Agrarian Reform in Brazil

Brazil’s federal government and Brazilian social organizations initiated debates today on the proposals the ...