Brazil - State debt : crisis and reform : Brasil - Divida estadual : crise e reforma (Portuguese)

The indebtedness of the Brazilian states has reached crisis proportions. Total debt now exceeds $100 billion, and states are not servicing roughly one-half of this. Since 1993, the growth of debt has accelerated. The federal government now holds most of the states' contractual debt, and finances it through federal bonds, and deposits at federal banks. Unless the growth of the debt is halted, the federal government will be forced to finance it by reducing...
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Brazil - State debt : crisis and reform : Brasil - Divida estadual : crise e reforma (Portuguese). Washington, DC: World Bank. http://documents.worldbank.org/curated/en/312581468228560778

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