Brazil Axes Foreign Investor Tax as Real Hits Four-Year Low
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Brazil will eliminate a tax on foreign investment in fixed income after the real had the worst performance in Latin America in the past three months.
“We were worried about excess liquidity and we have always criticized that,” Finance Minister Guido Mantega told reporters in Brasilia today after meeting with President Dilma Rousseff. “Now the market is more regular, more normal, which allows us to remove this obstacle we had placed.”