June 24, 2021, 10:37

    Brazil govt eyes $2.2 bln extraordinary credit to fund extended aid to poor – Guedes

    Brazil govt eyes $2.2 bln extraordinary credit to fund extended aid to poor – Guedes

    Brazil's government will need at least 11 billion reais ($2.2 billion) in extraordinary credit to extend emergency cash transfers to the poor for two or three months until the COVID-19 pandemic is, hopefully, under control, Economy Minister Paulo Guedes said on Tuesday.

    In an online event hosted by bank Bradesco, Guedes said he did not expect a negative market reaction to the extra spending, which would not be subject to the government's usual fiscal rules and is a "reasonable" amount given the public health situation.

    ($1 = 5.03 reais)

    Sourse: reuters.com

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