Fitch: Brazil 2021 Outlook Hindered by Multiple Shocks and Political Uncertainty

On a live broadcast from XP, Fitch Director Shetty said the pre-pandemic fiscal efforts secured the country a continued "BB-" rating, but the crisis warrants a negative outlook.

RIO DE JANEIRO, BRAZIL - Brazil is experiencing multiple shocks that add to the uncertainty of a rebound in 2021. The assessment was made by Shelly Shetty, director of Fitch and one of those responsible for the Brazilian rating, during a live broadcast of XP Investments on Friday, June 19th.

In addition to the coronavirus pandemic, which has damaged all global economies, Brazil is also facing a shock in commodity prices, foreign exchange, and politics. "The country was doing its homework and things were slowly heading towards the upside," she said.

Shetty was referring to the approval of the welfare reform . . .

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