Public Debt Management in Brazil



Table 3 - Debt Composition from Survey of Expectations

Risk

No hedge

Risk

Risk+Cost

Risk+Cost
Fix=Selic=0

Selic Rate

0.88

-4.14

-1.80

0

Foreign Exchange

027

0.73

-0.12

0.01

Price Index

1.03

2.98

2.61

0.99

Fixed Rate

-1.18  ~

1.43   ~

0.08    '

0    ~~

Notes: The debt composition is derived from equations (19)-(21).

23



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