S&P reaffirm Brazil’s BB- rating and maintains stable outlook

S&P Global Ratings reaffirmed Brazil’s long and short term credit notes in foreign and local currency in “BB-/B”. The agency also preserved the rating on a national scale in “BrAAA” and the assessment of convertibility and transfer in “BB+”. The institution justifies the decision with the expectation that the implementation of a fiscal adjustment and the “modest economic recovery” of the country.

Source: Agencia Estado

Brazilian coffee sales advance to 74% of harvested volume in 2020, says Safras

The commercialisation of the Brazilian coffee harvest this year reached 74% of the total until December 8th, informed the consultancy Safras & Mercado, representing an evolution of 5% in relation to the previous month. The advanced business has allowed record exports from Brazil in recent months, according to data from the board of exporters Cecafé.

Source: Reuters

Executive Branch allocates $800 mm credit for Kandir Law agreement

The Executive Branch sent to the National Congress modifications in proposal (PLN 41/20) that foresees additional credit this year. With this, the government opens space to settle R$ 4 billion ($800 mm) in agreement to compensate federative entities for the Kandir Law, most of it allocated in transfers from the Union to states, the Federal District and municipalities.

Source: Money Times