Country risk as measured by the spread on the country’s 5-year credit default swap (CDS) contracts has soared 14.02% since last Friday to 186 points, according to data compiled by Markit. This is also the highest level since November 6, when the spread reached 189 points. The indicator’s rise for Brazil is also much higher than that observed by other emerging economies in the same period. Mexico’s CDS spread rose 6.79%, Russia’s advanced 2.14%, South Africa’s rose 3.71% and Turkey’s 2.12%.
Source: Valor Investe
The appointment of reserve general Joaquim Silva e Luna to the presidency of Petrobras and the statements of President Jair Bolsonaro that more interference in state companies may come ahead made the stock market fall 4.8%, to 112.667 points. The shares of state-owned plummeted 19.96% (common) and 21.15% (preferred).
Source: 6 Minutos
The production of crude steel in Brazil reached 3.004 million tons in January, up 10.8% compared to the same period last year. The production of rolled products reached 2.167 million tons in January, up 6.6% in the period, and the production of semi-finished for sales was 621 thousand tons, an increase of 2.6% compared to the same month of 2020. The data was released by the Brazil Steel Institute.
Source: UOL Economia
The government could spend R$34.2 billion ($6.2 bn) extra with the new round of emergency aid to the vulnerable, predicts the Independent Fiscal Institution (IFI) of the Senate. The projection considers a program with four instalments of R$250 ($45), paid to 45 million beneficiaries. The total cost of the aid would be R$45 billion ($8.2 bn), but a smaller part, R$ 10.8 billion ($1.9 bn) will be funded with Bolsa Família funds already provided for in the budget.
Source: UOL Economia
The Brazilian territory has reached the mark of 500 thousand photovoltaic distributed generation (PVDG) consumer units. According to the Brazilian Photovoltaic Solar Energy Association (ABSOLAR), adding the wind, thermal, hydraulic and solar sources, the country has more than 511 thousand UCs. The entity states that, totalling R$ 23.1 billion ($4.18 bn), there are 400 thousand distributed solar generation systems that serve 500 thousand consumers.
Source: Portal Solar