Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for...
Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%.
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