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.
Ford Motor Co said on Thursday it will make 50,000 face shields at factories in Brazil and Argentina to donate in the fight against the coronavirus pandemic. The accelerating outbreak has triggered global shortages of protective equipment such as face shields, sending prices higher and forcing doctors to reuse old ones or go without them.
Xdex — a Brazilian Bitcoin exchange service has shut down its operations claiming tough regulatory measures in the country. The crypto exchange becomes the latest in Brazil to shutter as platforms continue to be crushed under the growing cost of compliance and lack of support from commercial banks.
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.
A pause in Brazilian diesel import negotiations is likely to extend into April as domestic demand wanes and the market braces for a wave of shipments contracted before coronavirus-related movement restrictions were put in place. As of 1 April, 23 ships were scheduled to deliver around 1.1bn l of diesel by the end of the month. There are currently no additional Brazil-bound import vessels scheduled for departure in April and May.
The coronavirus pandemic is weakening Brazilian state protection for the Amazon rainforest and its people ahead of this year’s fire season, according to indigenous communities and international NGOs. Fewer law enforcement officials are going out into the field and monitoring missions are being scaled back, opening the door for more land invasions and forest clearance, they warn.
Brazil’s industrial production went against expectations and rose in February for the second month in a row, although some segments may already show the first signs of the consequences of the coronavirus pandemic. In February, Brazilian industrial production increased 0.5% in relation to the previous month, according to data released this Wednesday by the Brazilian Institute of Geography and Statistics (IBGE).
Despite the drop in exports, the trade balance closed March with the lowest positive balance in three years. Last month, Brazil exported $ 4.713 billion more than it imported. The result is 9.7% higher than the $ 4.296 billion surplus registered in March last year. Last month, the country exported $ 19.239 billion, a decrease of 4.7% in relation to March of last year by the criterion of the daily average. Imports totalled $ 14.525 billion, with a 4.5% decrease also by the daily average.
The Ultrapar group cut its investment projection in 2020 by 30% and cancelled earnings estimates for this year in view of the uncertainties generated by the coronavirus pandemic. The company also said that it reinforced its liquidity position by R$ 1.5 billion ($300 million), according to a relevant fact material published on Wednesday.
The Ibovespa closed down on Wednesday, with no signs of relief in concerns about the reflexes of Covid-19, which brought down the shares in March, with shares of airline companies again among the negative highlights of the session. The reference index of the Brazilian stock market, Ibovespa fell 2.81%, to 70,966.70 points, having reached 69,568.56 points at the worst moment. The financial volume totalled R$ 21.8 billion ($ 4.2 billion).