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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy

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To: maceng2 who started this subject	10/27/2002 10:35:23 AM
From: D.Austin	Read Replies (1) of 1417

Paying the Bills in Brazil: Does the IMF’s Math Add Up? Brazil's public debt rose from 29.2 percent of GDP in 1994 to nearly 62 percent of GDP at present. (See Figure 1). The budget deficit is currently running at about 6 percent of GDP for 2002. The real interest rate on Brazil’s debt has averaged 16.1 percent over the last eight years (1994-2001). With interest rates at this level, deficits quickly grow through time; as this year’s deficit increases next year’s interest burden, the debt burden becomes explosive. cepr.net -- cepr.net

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