Levy Wants Foreign Investors

Brazil’s Treasury Secretary Joaquim Levy announced that the government wants foreign investors to buy more of the country’s sovereign debt. Foreign participation in the domestic debt market could “quickly” be increased to at least 10 percent through planned cuts in bureaucracy and easing of requirements for foreign purchases, Levy said. Brazil is seeking to broaden demand for its $353 billion domestic debt, which is about four times as large as its dollar debt, and sell bonds with longer maturities.