Brazil public debt hits record US$934 billion as Treasury swells emergency cash cushion

The Central Bank’s interest rate hike this week will not affect its strategy and could even boost investor demand for Brazil’s debt, according to the Treasury.

RIO DE JANEIRO, BRAZIL - Brazil’s record public debt rose above RS$5 trillion (US$900 billion) in February, the Treasury said on Wednesday, March 24th, as it squirreled away most of the new net issuance to its emergency cash buffer, or liquidity cushion.

Treasury also said rock-bottom borrowing costs anchored the cost of servicing near all-time lows. The Central Bank’s interest rate hike this week will not affect its strategy and could even boost investor demand for Brazil’s debt, it added.

Total federal debt rose 2.75% in February to RS$5.2 trillion (US . . .

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