The pandemic will result in a loss of $178.1 billion to Brazil by the end of 2021, according the United Nations Conference on Trade and Development, Unctad. The projection is for a loss of $102.2 billion in 2020 and $75.9 billion in 2021 (values adjusted at 2015 prices and exchange rate). In Unctad’s scenario, at the end of 2021 the Brazilian Gross Domestic Product (GDP) will be almost 10% lower compared to the pre-pandemic expansion trend. There was a net drop in income in practically all countries.
Source: Valor International
The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, announced that the agency will allocate $20 million in seed capital to a fund for the sustainable development of the Amazon, during the institution’s annual meeting in Colombia. President Jair Bolsonaro, present by video conference, applauded the IDB’s decision and called for “effectiveness” in its execution.
Source: UOL Economia
Santander Brazil raised its projection for the Selic rate to 5.50% at the end of 2021 from 4.00% in the previous calculation, incorporating an additional increase of 0.75 percentage points in May and 0.50 point increases in each of the following four monetary policy meetings.
Source: UOL Economia
The state-owned company Copel expects a positive impact of R$1.3 billion ($233 mm) on its cash generation measured by EBITDA when it records in its balance sheet the results of an agreement with the government and regulators on the so-called “hydrological risk” in the operation of its power plants. The estimate was presented by the company’s president in a conference call with shareholders on the results of 2020, when the company recorded a profit of R$3.9 billion ($696 mm), up 89.5% compared to 2019.
Source: Money Times
Chesf will hold its first auction of renewable energy certificates on March 26. The bidders may present proposals of quantity and price respecting the minimum of 10,000 certificates. According to Chesf, the auction will be possible because the company obtained the register in the I-REC Standard platform, through Totum Institute, for the wind source undertakings Casa Nova II and Casa Nova III, located in the municipality of Casa Nova, in Bahia, enabling the commercialisation of renewable energy certificates.
Source: Canal Energia