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Financial News: BRAZIL: No Need To Sell Long-term Notes At

BRAZIL: No Need To Sell Long-term Notes At Such A High Rate - Treasury

06/11/2018 - 13:09:00 (RTTNews)

(RTTNews) - Brazil's Treasury Secretary Mansueto Almeida said that the South American country does not need to carry out long-term, high-interest-rate bonds auctions at the current moment.

He noted that the Brazilian Treasury plans to resume offering long-term securities but in a smaller volume.

"The government can afford to cancel government bonds until the conditions are right," he said. "Currently, we have a very different scenario from that of 2002. The government has no funding problems. Unlike many other countries in the world today, our current account deficit is near zero and inflation is very low."

According to him, there is an interest of foreigners to enter Brazil through these securities. "Today, foreigners want to enter Brazil by buying long-term bonds, because the interest rate in this market is very high, but it is not interesting to the National Treasury."

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