January 29, 2014 / 6:40 PM / 4 years ago

UPDATE 1-Brazil ready to sell global debt despite EM turmoil -official

BRASILIA, Jan 29 (Reuters) - The Brazilian government could issue global debt in the coming months despite market volatility stemming from a currency sell-off in emerging economies, Treasury chief Arno Augustin said on Wednesday.

He said the government plans to diversify the currencies of future debt issues, which could include the euro. In the past few years, Brazil foreign debt sales have been denominated in U.S. dollars and the local real currency.

“We believe Brazil’s fundamentals are solid and based on those fundamentals we expect to issue (debt) in coming weeks despite volatility in emerging markets,” Augustin said in a press briefing.

Worries over the health of emerging economies has prompted an exodus of capital from those markets, forcing many central banks to raise rates to contain the spread of the sell-off.

Brazil’s net financing needs in 2014 are 476.6 billion reais ($195.36 billion) and the government’s goal is for the federal public debt to stay between 2.17 trillion reais and 2.32 trillion reais in 2014.

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