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14.06.2016 15:42:00
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Moody's: Brazil's Fiscal Responsibility Law undermined by economic downturn, loopholes
Sao Paulo, June 14, 2016 -- The positive impact of Brazil's (Ba2 negative) Fiscal Responsibility Law has been eroded as the federal and regional governments undermined the intent of the legislation in order to maintain their spending levels during the recession, says Moody's Investors Service.
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