Public Debt : The Brazilian Experience
The book analyzes the success of Brazil's public debt management practices. Over the past 10 years, Brazil has strengthened these practices so impressively that in early 2008, with the threat of a strong financial crisis in the world ahead, th...
| Main Authors: | , , |
|---|---|
| Format: | Debt and Creditworthiness Study |
| Language: | English en_US |
| Published: |
National Treasury, Brasilia
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/01/16427880/brazil-public-debt-brazilian-experience http://hdl.handle.net/10986/12790 |
| Summary: | The book analyzes the success of
Brazil's public debt management practices. Over the
past 10 years, Brazil has strengthened these practices so
impressively that in early 2008, with the threat of a strong
financial crisis in the world ahead, the main rating
agencies assigned Brazil the investment grade. Despite the
serious financial crisis that actually erupted in 2008,
Brazil's credibility with domestic and international
investors remains high. This book is organized into three
parts: Part I, Understanding the Brazilian Public Debt;
Origin and history of Brazil's public debt up to 1963,
provides an historical and conceptual analysis of
Brazil's public debt, exploring its main concepts and
sustainability, and offering a view of its progress from its
inception to the present. Part II, Managing the Brazilian
Public Debt, describes all aspects of FPD management. Part
III, The Public Debt Market in Brazil, describes how the
public debt market operates in Brazil. It reviews recent
developments and follows with the characteristics of public
securities traditionally used to finance debt, along with
their pricing schemes. Next, it describes the organization
of Brazil's financial markets, the operation of primary
and secondary debt markets, the expansion of the investor
base over time and the main holders of government securities. |
|---|