The International Monetary Fund has said Brazil’s financial system remains resilient even as cryptocurrency adoption surged sharply during 2025.
New IMF research noted that Brazil’s tight monetary policy, with the Selic rate holding at 15%, has not undermined credit markets or financial stability.
According to the IMF, recent credit expansion in Brazil was not a policy failure despite elevated interest rates
IMF research shows that the recent credit expansion in Brazil, amid a basic interest rate of 15%, was not a policy failure.
The IMF said.
Bank lending in Brazil increased by 11.5% in 2024, while corporate bond issuance rose by 30%, signalling continued access to capital.
Conventional macroeconomic theory would normally suggest such conditions reduce demand for alternative financial assets.
Instead, Brazil’s cryptocurrency activity increased by 43% year on year in 2025, defying traditional expectations.
The IMF’s Article IV consultation said Brazil’s central bank has effectively managed inflation expectations and credit transmission.