Insight
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6 Pages

Brazil's mounting debt: what are the risks?


Brazil's mounting debt: what are the risks?

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. 

What's included?

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  • Brazil's mounting debt: what are the risks? PDF - 314.53 KB 6 Pages, 0 Tables, 9 Figures

Description

This Macroeconomics and Global Trends Insight report presents our research on this key topic, and draws out the implications for economies and commodity markets.

This report delivers a clear understanding of our unique global economic outlook and identify risks and uncertainties to watch out for.

Wood Mackenzie's global trends and macroeconomic analysis underpins all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

Our comprehensive understanding of commodity markets gives us a unique insight into the pace of global development and the risks associated with it.

  • Executive summary
  • Brazil's bleak fiscal outlook
    • Inflation and currency depreciation accelerate
    • Corporate sector debt is a major concern
    • Conclusion

In this report there are 9 tables or charts, including:

  • Executive summary
  • Brazil's bleak fiscal outlook
    • Brazilian government balance
    • Government debt
    • Currency tumbles; inflation soars
    • Borrowing costs have risen sharply
    • Public investment into transport infrastructure
    • Share of debt denominated in foreign currencies
    • Barclays Brazilian corporate bond index - yield
    • Petrobras debt and gearing
    • Petrobras net-debt outlook
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