Insight
Brazil's mounting debt: what are the risks?
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The fiscal position of the Brazilian government has deteriorated rapidly over the past year, and is likely to get worse before it gets better. This will drag on the economy, even if a sovereign default is avoided. The debt dynamics of many corporates are even worse; high levels of US dollar denominated debt and a tumbling currency are straining corporate balance sheets. Fiscal retrenchment, corporate defaults and job losses will be a drag on the economy in the short to medium term, while faltering public and private investment will have long lasting repercussions for growth.
Table of contents
- Executive summary
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Brazil's bleak fiscal outlook
- Inflation and currency depreciation accelerate
- Corporate sector debt is a major concern
- Conclusion
Tables and charts
This report includes the following images and tables:
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Brazilian government balanceGovernment debtCurrency tumbles; inflation soars
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Borrowing costs have risen sharplyPublic investment into transport infrastructureShare of debt denominated in foreign currenciesBarclays Brazilian corporate bond index - yieldPetrobras debt and gearingPetrobras net-debt outlook
What's included
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