Posts
Brasil's foreign debt rating was lifted from BBB- to BBB by Fitch, the second-lowest investment grade but the same as Mexico, Russia and Thailand.
The upgrade only adds to FM Guido Mantega's dilemma about the growing strength of the real.
“The more solid the Brasilian economy becomes, the more it tends to attract foreign investment and dollars, which at the moment is kind of a problem,” Mantega said. “The government will continue to take measures to contain the excess of dollars.”
“There’s not much they can do other than buying dollars,"claims one analyst.
