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The government wants a $50 billion increase in the cap on external emissions to target the market, Ceron says

BRASILIA (Reuters) – The federal government has asked the Senate to increase the limit on issuing government bonds abroad by $50 billion, National Treasury Secretary Rogério Ceron said on Tuesday, arguing that the measure is important for refer to private sector emissions.

In a public hearing in the Senate, Ceron argued that this limit increase should be consumed over the next 10 to 15 years.

A request sent by President Luiz Inácio Lula da Silva to the Senate in March calls for raising the maximum limit for issuing public debt securities abroad to $125 billion, from the current $75 billion.

Ceron said at the hearing that the current limit, approved in 2004, was almost completely consumed with the $4 billion issuance made earlier this year.

“Maintaining these emissions plays a very important role in creating a baseline curve for corporate emissions,” he said.

Arguing that the greater need for space for external emissions is also linked to the initiative to issue bonds linked to environmental and social commitments, he considered that the government has no interest in “substantially increasing” the amount of public debt abroad.

Source: Terra

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