Month: July 2020

Caixa reaches $1.1 bn limit for small businesses

Caixa has reached the approved limit for the support programme for micro and small companies, Pronampe. In contracts signed and proposals in the final phase of analysis are already R$ 5.9 billion ($ 1.1 bn), the limit authorised by the Operations Guarantee Fund (FGO). With other credit lines […]

Rural credit grows by 30% in Brazil

In the 2019/2020 harvest, rural credit in Brazil grew 30%, reaching R$ 225 billion ($ 43 bn), according to the Ministry of Agriculture. The resources are from the 2019/20 harvest plan, Agribusiness Credit Bills (LCAs), acquisitions of Rural Product Notes (CPRs) and operations with agribusiness.

Bankruptcies rose by 71.3% in Brazil

After four months of pandemic, companies are beginning to collapse to cash flow shortages and the financial inability to pay all their debts. Last month, the number of judicial recovery requests grew 44.6% and the number of bankruptcies decreed, 71.3% compared to the same period in 2019, according to a survey by Boa Vista SCPC.

Brazilian economic activity grows by 1.31% in May

After two months of sharply declining, economic activity in Brazil recorded growth in May. The IBC-Br rose 1.31% in May, compared to April this year, according to data released by the Central Bank (BC). Under the effects of the covid-19 pandemic, the IBC-Br fell 9.45% in April and 6.14% in March, compared to the previous month.

Brazilian exports to US should drop 25%

As a result of the economic effects of the new coronavirus pandemic, Brazilian exports to the United States are expected to fall between 20% and 25% by 2020, predicts Amcham, the U.S. chamber of commerce in Brazil. Imports from the U.S., on the other hand, are expected to […]

Brazil’s coffee exports close 2nd largest volume in history

Total exports of coffee from Brazil (green and industrialised) in 2019/20 amounted to 39.9 million 60-kg bags, a fall of 3.6% compared to the previous cycle, the Council of Coffee Exporters of Brazil (Cecafé) reported. Despite the decline, the result represents the second largest volume shipped in history, behind only the 2018/19 season.

Brazil sees up to 10 GW in new nuclear power by 2050

The Brazilian government has projected the construction of up to 10 GW in new nuclear power plants by 2050 in a long-term plan for the energy sector, which also points to the re-powering of old hydroelectric plants as a way of expanding the supply of generation. According to PNE 2050, the government will seek to insert between 8 GW and 10 GW in new nuclear power plants in the next three decades.

Cotton: 80% of Brazilian production is sustainable

Actions of the Responsible Brazilian Cotton Program (ABR), from Abrapa, shows that all cotton produced in Brazil, 80% is sustainable in terms of production. The ABR certification list has 178 items to be followed by the producer and all these efforts has led Brazil to be the largest supplier of sustainable cotton in the world, being responsible for 1/3 of all world production.

Brazil reaches 6 GW in solar power capacity

Brazil has exceeded the mark of 6 GW of installed capacity in photovoltaic plants, a total investment estimated at R$ 31 billion ($ 6bn), announced Absolar in a statement. The total of investments planned up to 2025 for projects already contracted in energy auctions exceed R$ 25.8 billion ($ 4.9bn).

Itaú releases $ 711 mm in Pronampe credit

Itaú Unibanco has made all available resources for the Pronampe credit line, created to help micro and small businesses affected by the new coronavirus. In all, 37,000 micro and small business customers of the private bank received a total of R$ 3.7 billion ($ 711 mm). According to the bank, in just half an hour of provision the institution finished 100 % of the volume available for the credit line.