RIO DE JANEIRO, BRAZIL - Brazil began 2021 with the most need to refinance its public debt among all emerging countries.
With maturity substantially reduced in 2020, debt rollover this year by issuing new bonds represents 18.5% of GDP, the highest level in the Treasury's records, which began in 2005.
The amount is equivalent to approximately R$1.4 trillion (US$259 billion), which will need to be raised with the sale of bonds on the market.
According to a new report by the Institute of International Finance (IIF), which comprises 450 banks and financial institutions in 40 countries . . .