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Defaults Across Brazil Rise to Third Consecutive Record High

BRAZIL
  • Correio Braziliense writes that defaults across Brazil have now reached more than 67.3mln consumers in the month of May - this marks the third consecutive record for the survey.
  • The survey cites high unemployment, high levels of inflation and high interest rates as the primary drivers for the excessive indebtedness and consequent default pressures.
  • Four out of ten Brazilian adults surveyed were at risk of default in the CNDL/SPC Brasil survey.

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