Weak-Kneed Investors Need Not Apply

The words Rio and financial stability rarely appear in the same sentence - or even the same conversation.

But Rio de Janeiro hopes improved public finances and renewed foreign demand for Latin American debt will allow the city to sell bonds abroad for the first time in almost seven decades.

“Our coffers are in good shape so now is a good time,” said Renato Villela, the economic adviser at Rio de Janeiro’s municipal treasury.

If successful, it would mark the first time Rio has sold bonds in international markets since 1928 and the first sale by a city in Latin America since the 1980s debt crisis.