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High interest rates in Brazil impede access to credit for 71% of businesses, reveals survey

A study by Brazil's National Confederation of Industry (CNI) indicates that high-interest rates pose a major obstacle for 71% of companies seeking short or medium-term credit.

Since August 2022, the Selic rate has been fixed at 13.75%, becoming a point of contention between the government's economic team and the Central Bank (BC).

Another quarter (25%) of the companies surveyed expressed that the requirements for tangible collateral from banks are their primary hurdle to securing financing.

Meanwhile, 16% voiced dissatisfaction over the lack of credit lines that suit their company's needs.

The survey, conducted between . . .

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