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Economics Nobel Prize winner says that Brazil’s interest rate is equivalent to a death penalty

The Columbia University professor and winner of the Nobel Prize in Economics in 2011, Joseph Stiglitz, said on Monday (20) that the interest rate in Brazil is "shocking" and equivalent to a "death penalty".

The statements were made during the seminar "Strategies of Sustainable Development for the 21st Century", promoted by BNDES.

"Your interest rate {in Brazil} is, in fact, shocking. A rate of 13.75%, or 8% real, is the kind of interest rate that will kill any economy. It is impressive that Brazil has survived this, which would be a death sentence," he said.

He attributed the fact . . .

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