Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Brazil Can Manage Debt Amid Global Market Rout, Valle Says

Don't Miss Out —
Follow us on:

Aug. 5 (Bloomberg) -- A global rout in stock markets yesterday won’t affect Brazil’s ability to manage its public debt, Deputy Treasury Secretary Paulo Valle said.

“Brazil is doing well,” he said in a telephone interview from Brasilia. “We have already financed more than 80 percent of our debt this year and in the coming months will have little maturing.”

The Bovespa tumbled 5.7 percent yesterday, the worst performing among the world’s 20 biggest equity markets, led by declines in commodity producers. Brazilian stocks have also been affected by disappointing earnings and concern the global economy is weakening.

The Treasury and central bank will modify rules for selling public debt starting Aug. 9. Changes include the timing of the weekly auctions and new incentives for dealers to use electronic trading systems, Valle said. Demand for notes should rise since the changes will add liquidity to Brazil’s secondary and primary markets, he said.

“We listened to dealers and improved the system to make it more efficient,” Valle said.

To contact the reporter on this story: Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.