Edition:
India

Marcela Ayres

Brazil central bank chief cool on extraordinary policy options

29 May 2020

BRASILIA Brazil has not exhausted its monetary policy options but should be skeptical of reducing interest rates close to zero or printing money to buy bonds and finance the government deficit, central bank president Roberto Campos Neto said on Thursday.

Brazil turns to multilateral lenders in coronavirus crisis

26 May 2020

BRASILIA, May 25 Brazil's government hopes to borrow $4 billion from multilateral lending organizations to finance expenses related to the coronavirus crisis, including emergency supplementary payments and other social support programs.

Brazil to boost aid for informal workers, formal jobless insurance claims surge 76.2%

22 May 2020

BRASILIA The mounting pressure on Brazil's workforce from the unfolding economic crisis during the new coronavirus outbreak was highlighted on Thursday as figures showed a 76% surge in formal unemployment insurance claims, and the Economy Ministry said it will increase emergency aid for informal workers.

Brazil ready to increase FX intervention but cautious on bond buying: central bank chief

21 May 2020

BRASILIA Brazil stands ready to dip into its large pool of foreign exchange reserves and continue intervening in the currency market if needed, but any bond market intervention is likely to be far smaller in size, central bank President Roberto Campos Neto said on Wednesday.

Brazil Economy Minister Guedes has full support of his team: official

21 May 2020

BRASILIA Brazil's economic team is fully behind Economy Minister Paulo Guedes and his vision for the country, a senior ministry official said on Wednesday, insisting that reducing red tape and the cost of doing business in Brazil will be crucial to kickstarting the recovery.

UPDATE 1-Brazil yields on bonds beyond 3 years too high to fund crisis spending -Treasury Secretary

20 May 2020

BRASILIA, May 19 Brazil will finance emergency crisis-fighting spending by selling debt of up to three years maturity, beyond which borrowing costs start to get very high, Treasury Secretary Mansueto Almeida said on Tuesday.

UPDATE 1-Brazil's primary deficit this year could top 9% of GDP, says Treasury Secretary

14 May 2020

BRASILIA, May 14 Brazil's government could post a record primary budget deficit of more than 9% of gross domestic product this year on plunging revenues and increased emergency spending due to the coronavirus crisis, Treasury Secretary Mansueto Almeida said on Thursday.

Brazil govt cuts 2020 GDP forecast to -4.7%, the biggest fall since 1900

14 May 2020

BRASILIA Brazil's government lowered its 2020 economic outlook on Wednesday, forecasting a gross domestic product contraction of 4.7%, which would signal the country's biggest economic crash in more than a century.

Exclusive: Brazil asks mint to work overtime as currency shortage looms

08 May 2020

SAO PAULO/BRASILIA Brazil is running short of hard currency needed to pay funds aimed at helping people impoverished by the coronavirus crisis, according to two sources and a document reviewed by Reuters, the latest blow to the country's troubled stimulus program.

Brazil's Guedes warns of virus-control measures' economic toll

08 May 2020

BRASILIA The coronavirus is pushing Brazil toward food shortages and broader production problems, Economy Minister Paulo Guedes warned on Thursday, as he joined business leaders in a protest at the Supreme Court against measures enforced by state governors to repress the virus.

World News