1 Min Read
BRASILIA/SAO PAULO, June 28 (Reuters) - Loan defaults in Brazil jumped in May to a fresh record, the central bank said on Wednesday, reflecting the impact of the country's harshest recession ever and protracted corporate debt restructurings.
Defaults for 90 days or more, a benchmark gauge for loan delinquencies, climbed to 5.9 percent of non-earmarked, outstanding credit last month, compared with 5.7 percent in April, the central bank said in a report. Last month the default ratio, as the gauge is known, hit the highest level in eight months. (Reporting by Marcela Ayres and Guillermo Parra-Bernal; Editing by Chizu Nomiyama)