BRASILIA, Feb 3 (Reuters) - Brazil’s government is putting global bond sales on hold due to a widening corruption scandal at state-run oil company Petrobras, a member of President Dilma Rousseff’s economic team said on Tuesday.
“There’s no window [for a foreign debt sale],” the source said on condition of anonymity because of the sensitivity of the government’s plans.
Investor confidence in Brazil has been rattled by a growing fiscal deficit, stagnant economy and evidence of a price-fixing, bribery and political kickback scheme at the oil firm known as Petroleo Brasileiro SA.
Brazil’s last foreign debt sale, in September, was a $1 billion reopened offering of dollar-denominated global bonds due in January 2025.
There are no plans yet for meetings between Brazil’s economic policymakers and foreign investors, according to the government source. So-called road shows are often scheduled in advance of global bond sales. (Writing by Brad Haynes; Editing by Richard Chang)