THE BRICS emerging market economies have already bought debt via the European Financial Stability Facility and could buy more, a potential help to struggling eurozone countries, a Brazilian newspaper said yesterday.

“We’re very pleased to see already some BRICS countries investing in our debt,” Christophe Frankel, CFO of the EFSF, told Valor Economico, Brazil’s financial daily.

“This represents a very interesting diversification in our investor base,” he added.

Brazil’s central bank and finance ministry declined to comment.

The BRICS includes Brazil, Russia, India, China and South Africa – major emerging economies whose growth has made them stand out, even as developed nations struggled.

The eurozone is facing rocky economic prospects, with debt problems in Greece and elsewhere threatening the monetary union’s survival.

The EFSF has already held a number of teleconferences with BRICS central banks, Valor Economico reported.

Source:cnbusinessnews