Caixa and Banco do Brazil will help companies

The government’s plan to tackle the effects of the global turmoil – caused by the coronavirus outbreak and exacerbated by tension in the oil market – includes accelerating the reform agenda, actions by the Central Bank to contain the dollar and run down the credit channel and the strengthening of public banks (Caixa and Banco do Brazil) in lines of assistance to companies. In a meeting with the economic team, Guedes made it clear that he has no “plan B” for the economy and that the strategy is to follow the initial plan already outlined and take advantage of the unfavourable international winds to “deepen it”.

Source: Agencia Estado

Categories: Macroeconomy/Finance