STF approves allocation of $320mn of Lava Jato fund to fight coronavirus

Supreme Federal Court (STF), authorized the allocation of 1.6 billion reais ($ 320 million) of a fund of resources recovered by the Lava Jato operation for actions to contain, combat and mitigate the new coronavirus, as the disease advances across the country. The Chamber of Deputies, the Senate and the Union agreed with the proposal, due to the significance of the situation caused by the coronavirus pandemic.

Source: Reuters

BC says that pandemic will have a significant contraction on the market

The Central Bank’s Monetary Policy Committee stated that the information available is already sufficient to show that the Covid-19 pandemic will have an “extremely significant contractionary effect on global activity”. For the BC, the fiscal and monetary measures adopted by the main economies tend to “mitigate only a small part of these effects”. The BC added that, for emerging countries, the environment quickly changed from “favorable to challenging”.

Source: G1

BNDES suspend loan collection for 6 months

The BNDES announced on Sunday (22) the suspension of collection of loans for 6 months due to the coronavirus. Sectors such as Oil and Gas, Airports, Ports, Energy, Transport, Urban Mobility, Health, Industry and Commerce and Services will be served by the action, totaling R $ 30 billion ($ 6 billion), of which R $ 19 billion ($ 3.8 billion) for direct operations and R $ 11 billion ($ 2.2 billion) for indirect operations.

Source: G1