Brazil's public debt rises 2.01% in May, interest rates reach 5-year highs
Reuters
Published Jun 28, 2022 02:32PM ET
BRASILIA (Reuters) - Brazil's federal public debt rose 2.01% in May from the month before, with the average costs of domestic debt issuance jumping to the highest level in five years amid high inflation, the Treasury said on Tuesday.
The debt stock reached 5.702 trillion reais ($1.08 trillion) in May after it had increased 0.45% in April over the previous month. April data had not yet been published due to a protest for higher salaries by Treasury employees.
According to the Treasury, the average interest rate on the domestic federal debt grew to 11.69% against 11.29% in April, its highest level since May 2017, amid appreciation in inflation-linked and interest rate bonds.
The Brazilian central bank has already raised its key interest rate to 13.25% from a record low of 2% in March last year, indicating there is room for another hike in its battle to tame double-digit inflation in Latin America's largest economy.
($1 = 5.2557 reais)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.