Brazilian Senate approves bailout of $ 22 bn to states and municipalities

The Senate approved on Saturday (2), with 79 votes in favour and only, on the contrary, a financial aid of R$ 125 billion ($ 22 billion) to states and municipalities to combat the effects of the pandemic of the covid-19. The amount, provided for by the Federative Program for Confronting the Coronavirus (PLP 39/2020), includes direct transfers and debt suspension. The proposal will allocate R$ 60 billion ($11 billion) in four monthly instalments.

Source: Jornal do Brasil

Categories: Macroeconomy/Finance