Brazil reignites capital control fears
BRASILIA - The re-introduction of a tax on foreign purchases of Brazilian stocks and bonds last week raised fears of new capital controls sweeping the emerging markets (EM).
Brazil announced a 2% tax on all cross-border fixed-income and equity investments last Monday (October 19) in a bid to halt the rise of the strengthening real, which has soared in value against the dollar by one-third since the beginning of the year. And with plenty of other emerging market economies facing the same problem
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