In an interview on Nos Corredores do Poder, aired by TV Brasil today (Jun. 7), President Michel Temer said that the Brazilian government has all the conditions to face the current high price of the dollar in the country. “There is no risk of a foreign exchange crisis in Brazil,” he argued.
The country has reserves amounting to $380 billion and a debt significantly below this number, in addition to keeping fiscal adjustment under control and continuing to attract investments from companies overseas, the president went on to remark. He noted that Brazil is not the only country feeling the effects of a hike in the US currency and interest, naming countries like Mexico, Argentina, and Colombia as other cases in point.