Category: Macroeconomy/Finance

Information regarding Brazil’s finance sector and the country’s macroeconomy.

Agribusiness exports reached $21.4bn in the 1st quarter of 2020

Brazilian agribusiness exports in the first quarter of 2020 totalled $21.4 billion and were virtually stable compared with the same period last year, CNA said. China was the main destination for Brazil’s agricultural commodities exports like soy, beef and chicken, with shipments to the Asian country totalling $7.2 billion in the period.

S&P Global predicts negative Brazilian GDP at 0.7%

S&P Global Ratings predicts that Brazil’s Gross Domestic Product (GDP) should contract by 0.7% in 2020, with a downside risk, due to the economic impacts of the new coronavirus pandemic. “Brazil’s economic growth in 2020 will be seriously affected by the impact of covid-19 locally and globally,” says the risk rating agency in a note.

Ibovespa rises 6.5% and dollar falls to R$ 5.29

The Ibovespa closed higher on Monday (6) following the performance of the United States stock exchanges. The Ibovespa recorded gains of 6.52%, at 74,072 points, with a financial volume of R$ 21.6 billion ($4.2 billion) after rising more than 8% before the news of the minister’s resignation.

Central Bank Announces $130 bn into Brazil’s Economy

Financial institutions will be able to take out loans with the Central Bank. The estimate is for the release of R$650 (US$125) billion into the economy. In an extraordinary meeting, the National Monetary Council (CMN) authorized the Central Bank (BC) to grant loans to banks taking as collateral the credit portfolios of these institutions. The operations will have a minimum of 30 days and a maximum of 359 calendar days maturity.

Dollar has a new record and closes at R $ 5.32

The dollar closed higher for the sixth consecutive day on Friday (3), hitting the seventh consecutive week of gains amid widespread caution after coronavirus cases in the world exceeded 1 million, with data on employment in the United States highlighting the economic impact of the pandemic.

Central Bank announces it could release $125bn into Brazil’s economy

Financial institutions will be able to take out loans with the Central Bank. The estimate is for the release of R$650 billion ($125 billion) into the economy. In an extraordinary meeting, the National Monetary Council (CMN) authorized the Central Bank (BC) to grant loans to banks taking as collateral the credit portfolios of these institutions. The operations will have a minimum of 30 days and a maximum of 359 calendar days maturity.

Bolsonaro announces additional $22bn in spending to preserve jobs

Brazilian President Jair Bolsonaro on Wednesday announced new steps to address the economic impact of the coronavirus pandemic in a telephonic conversation with his US counterpart Donald Trump. Bolsonaro said, “I spoke with Donald Trump and exchanged information about a problem that is global,” while promising an additional 110 billion reais ($22 billion) in spending to “preserve jobs” and aid states and municipalities, according to the media report.