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Brazil to Propose Measure to Offset Currency Devaluation, O Estado Says

Brazil plans to propose a so-called anti-dumping mechanism to the World Trade Organization to help countries offset currency devaluations, such as that of the U.S. dollar, O Estado de Sao Paulo reported, citing Development Minister Fernando Pimentel.

The measure would create an acceptable band of currency fluctuation which, when exceeded, would permit countries to charge an additional tax on imports to compensate for losses, the newspaper said. The limits would be set by organizations such as the International Monetary Fund, according to O Estado.

To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net

To contact the editor responsible for this story: Francisco Marcelino at mdeoliveira@bloomberg.net

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