Day: June 11, 2020

Government announces $3.4 bn for small business loans

The Ministry of Economy announced that the Operations Guarantee Fund (FGO) will release R$15.9 billion ($3.4 billion) from the National Treasury, for small business loans, as a way to mitigate the economic effects of the crisis caused by the new coronavirus pandemic. The credit is part of the National Support Program for Micro and Small Enterprises (Pronampe).

Brazil’s IPCA decreases by 0.38% in May

The Broad National Consumer Price Index (IPCA) recorded a 0.38% drop in May after falling 0.31% in April, according to the Brazilian Institute of Geography and Statistics (IBGE). May marked the second consecutive month of deflation and this is the weakest monthly result for the index since August 1998, when prices decreased by 0.51%.

Brazilian agribusiness exports $10.9 billion

Brazilian agribusiness exported $10.9 billion in May and broke a record for the month, according to data released by the Secretariat for Trade and International Relations (SCRI) of the Ministry of Agriculture, Livestock and Supply. Compared to May 2019, there was a 17.9% growth in foreign sales. With that, the sector’s exports corresponded to 60.9% of the total sold by the country.

Tourism industry has losses of almost $19 bn

The National Confederation of Trade in Goods, Services and Tourism (CNC) estimates losses of almost R$90 billion ($19 billion) for the tourism sector in the country in three months, due to the pandemic. CNC warns that the scenario could lead to the elimination of 727,800 jobs in the sector by the end of June.

Odontoprev will pay $2.7 mm in interest on equity

Odontoprev informed the market that it will pay R$13.3 million ($2.7 million) in interest on capital, corresponding to R$0.02 per share. According to the document, the holders of the company’s papers will be entitled to receive the amount on June 16, 2020. Payment will be made on July 3, 2020 and the shares will be traded in ex-interest as of December 17, 2020.