Brazil Taps Into Sovereign Fund to Meet 2012 Fiscal Target
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Brazil tapped into its sovereign wealth fund and state companies’ profits in an effort to meet its 2012 fiscal target.
The Treasury will withdraw 8.85 billion reais ($4.3 billion) from its sovereign wealth fund and 4.7 billion reais in dividends from state-owned bank Caixa Economica Federal, according to a Dec. 31 decision published in today’s official gazette.