Central Bank announces it could release $125bn into Brazil’s economy

Financial institutions will be able to take out loans with the Central Bank. The estimate is for the release of R$650 billion ($125 billion) into the economy. In an extraordinary meeting, the National Monetary Council (CMN) authorized the Central Bank (BC) to grant loans to banks taking as collateral the credit portfolios of these institutions. The operations will have a minimum of 30 days and a maximum of 359 calendar days maturity.

Source: The Rio Times

Bolsonaro announces additional $22bn in spending to preserve jobs

Brazilian President Jair Bolsonaro on Wednesday announced new steps to address the economic impact of the coronavirus pandemic in a telephonic conversation with his US counterpart Donald Trump. Bolsonaro said, “I spoke with Donald Trump and exchanged information about a problem that is global,” while promising an additional 110 billion reais ($22 billion) in spending to “preserve jobs” and aid states and municipalities, according to the media report.

Source: The Statesman

Brazil hits pause on diesel import interest

A pause in Brazilian diesel import negotiations is likely to extend into April as domestic demand wanes and the market braces for a wave of shipments contracted before coronavirus-related movement restrictions were put in place. As of 1 April, 23 ships were scheduled to deliver around 1.1bn l of diesel by the end of the month. There are currently no additional Brazil-bound import vessels scheduled for departure in April and May.

Source: argus

Brazil: coronavirus fears weaken Amazon protection ahead of fire season

The coronavirus pandemic is weakening Brazilian state protection for the Amazon rainforest and its people ahead of this year’s fire season, according to indigenous communities and international NGOs. Fewer law enforcement officials are going out into the field and monitoring missions are being scaled back, opening the door for more land invasions and forest clearance, they warn.

Source: The Guardian