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Persistently high borrowing costs have surfaced as a structural challenge no incoming Brazilian administration can set aside.
Moretti stated that the country's next government must address the issue directly, placing the cost of credit at the center of whatever economic agenda follows the transition.
Borrowing costs that have remained persistently elevated are not a problem a change of government alone will correct. They reflect a rate environment shaped by expectations around fiscal discipline and sovereign risk.
Whoever governs next will inherit those expectations along with the office. The fiscal arithmetic is unforgiving.
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