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LatinNews Daily - 28 January 2021

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In brief: Brazil’s public debt exceeds 2020 target

* Brazil’s national treasury secretariat has reported that federal public debt totalled R$5.01trn (US$925.33bn) at the close of 2020, a 17.9% increase on the levels of public debt recorded in 2019. This is in excess of the R$4.6trn-R$4.9trn target range established in last year’s annual financing plan (PAF) – a target which had been revised up in August 2020 as government borrowing increased to meet the spending demands of responding to the coronavirus (Covid-19) pandemic. Brazil’s debt is primarily domestic, with R$4.77trn held domestically and just R$243.5bn held externally. The 2021 PAF unveiled by the national treasury sets a target range of R$5.6trn-R$5.9trn for federal public debt this year, with almost a third of debt maturities due in the next 12 months.