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Structural and Fiscal Issues Critical to Brazil’s Credit Rating, Says Fitch

RIO DE JANEIRO, BRAZIL - Shelly Shetty, Fitch's co-director of sovereign ratings for the Americas, said maintaining fiscal credibility and progressing with structural reforms is critical to changing the adverse outlook given Brazil's "BB-" rating in May last year.

"Our projections are for a dramatic reduction in the budget deficit to 7% of GDP this year [from 14% in 2020], and these incorporate the full removal of fiscal stimulus and maintenance of the spending cap," Shetty said during a webinar held by the agency on the outlook for Latin American countries this year.

She said that should the . . .

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