Brazil’s Rio at mercy of Pimco, Dodge & Cox as oil cash dries up

Already grappling with one of Brazil’s most severe outbreaks of the novel coronavirus and a budget deep in the red, Rio de Janeiro state faces a potential threat to its solvency at the hands of investment giants PIMCO and Dodge & Cox.

The U.S. asset managers have the right to a 2.5 billion real ($470 million) accelerated loan repayment in mid-May from Brazil’s third-largest state, known for its dramatic coastal capital, officials told Reuters.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by

Up ↑

%d bloggers like this: