Brazil Will Recover The Investment Grade Rating
Brasilia – Minister of Planning and Brazilian Nelson Barbosa said his country will recover its credit rating at investment grade once the economy returns to growth.
And stripped the Standard & Poor’s Brazil on Wednesday of its credit rating at investment grade, a move that cast doubt on President efforts aimed to restore market confidence and lift the country’s economy out of recession.
The downgrade is a major setback for the procedures and Finance Minister Joaquim Levy in order to strengthen the public finances of the state.
Barbosa said that the government is considering new proposals in order to achieve financial balance and the accounts it was reviewing objectives and time scales for a number of programs to address the deficit.
He added, “Brazil will continue to fulfill all its obligations.”