Exclusive-Brazil readies currency hedging tool to boost FDI, says Haddad

FILE PHOTO: Brazil's Finance Minister Fernando Haddad attends a meeting with mayors in Brasilia, Brazil March 13, 2023. REUTERS/Adriano Machado/File photo

BRASILIA (Reuters) - Brazil's government is preparing to introduce currency hedging instruments this year to attract more long-term investments from abroad, Finance Minister Fernando Haddad told Reuters, in an effort to reverse slumping foreign direct investment (FDI).

In a late Wednesday interview, Haddad revealed that the initiative, now being finalized in collaboration with the central bank, should be launched within the next 60 days.