Brazil at risk of recession as S&P downgrades debt near junk
Mar 27, 2014 7:35:06 GMT -5
Post by popcorn on Mar 27, 2014 7:35:06 GMT -5
Brazil at risk of recession as S&P downgrades debt to near junk
Rating agency cuts Brazil’s debt one notch to BBB-, citing “fiscal slippage”, bad economic management, and one-off tricks that flattered the public accounts
Brazil’s sovereign debt is one step away from junk after Standard & Poor’s downgraded Latin America’s powerhouse economy, prompting a furious reaction from the Brazilian treasury.
The rating agency cut Brazil’s debt one notch to BBB-, citing “fiscal slippage”, bad economic management, and one-off tricks that flattered the public accounts. It warned of a widening trade deficit and weak growth for years to come.
Marcelo Carvalho from BNP Paribas said the former darling of the BRICs quartet is staring “down the barrel of a recession”, a viewed echoed on Tuesday by Mark Mobius from Templeton Emerging Markets.
read more:
www.telegraph.co.uk/finance/economics/10722934/Brazil-at-risk-of-recession-as-SandP-downgrades-debt-to-near-junk.html
Rating agency cuts Brazil’s debt one notch to BBB-, citing “fiscal slippage”, bad economic management, and one-off tricks that flattered the public accounts
Brazil’s sovereign debt is one step away from junk after Standard & Poor’s downgraded Latin America’s powerhouse economy, prompting a furious reaction from the Brazilian treasury.
The rating agency cut Brazil’s debt one notch to BBB-, citing “fiscal slippage”, bad economic management, and one-off tricks that flattered the public accounts. It warned of a widening trade deficit and weak growth for years to come.
Marcelo Carvalho from BNP Paribas said the former darling of the BRICs quartet is staring “down the barrel of a recession”, a viewed echoed on Tuesday by Mark Mobius from Templeton Emerging Markets.
read more:
www.telegraph.co.uk/finance/economics/10722934/Brazil-at-risk-of-recession-as-SandP-downgrades-debt-to-near-junk.html