Brazilian public debt: rentiers profit, investments drop, math doesn’t add up

Pedro Rossi, an economist and professor at the University of Campinas (UNICAMP), says the problem is not the size of the public debt, but the high interest rates paid to creditors. “The Brazilian problem is the interest on public debt, which is really high. It produces a perverse effect, which I call the 'Robin Hood, Brazilian style' effect. They take money from the people to pay interests on the debt.”