Correction: In our story on Latin America’s largest economies ("Different kettles of fish", August 24th) we said that Brazil’s current account deficit "is mostly financed by borrowing in local currency". In fact, it is mostly financed by foreign direct investment. It is the fiscal deficit that is mostly financed by borrowing in local currency. Our apologies.
via The Economist: The Americas http://www.economist.com/news/americas/21586305-brazils-current-account-deficit?fsrc=rss%7Came
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