Brazil Raises Floating Debt Forecast to Record 53 Percent
Brazil lifted its forecast for floating-rate debt to a record 53 percent this year as higher borrowing costs feed into debt accumulation. The Treasury cited heightened market volatility and elevated interest rates driving investor preference for shorter instruments.
Brazil's Treasury revised its annual financing plan on Wednesday afternoon, projecting that the share of public debt linked to the benchmark Selic rate will hit a record 53% this year. The previous forecast capped floating-rate liabilities at 50%.
