The Treasury of Brazil sold US$ 1.6 billion in treasury notes on the international market, with a rate of return of 8.6% a year, the lowest interest ever offered on this kind of note.
Author: Agência Brasil
This Monday (16th) the institution announced its new president, the United States-born Jim Yong Kim, of South Korean descent. He will replace Robert Zoellick for a five-year term.
The activity of the Brazilian economy declined for the second month in a row. There was a 0.07% slowdown in February compared with January.
The Brazilian government aims to save the amount in order to pay public debt interest next year. The GDP growth forecast is 5.5%, as against 4.5% in 2012.
Brazilian economy must have greater productivity to improve competitiveness, said BNDES president Luciano Coutinho, in a meeting at the CNI.
The organisation of oil exporter countries has listed the political uncertainty in Arab countries, the fear of shortages and the activities of speculators as factors for higher oil prices.
Guido Mantega stated that Brazil’s financial institutions charge the world’s highest spread and ‘want the bill to rest on the government’s back.’ He is pushing for lower interest rates for financing.
Sugar production is expected to increase by 5.72% to 33.1 million tonnes in Mid-South Brazil in the 2012-2013 crop. The ethanol crop should grow by 4.58% to 21.5 billion litres.
The announcement was made by the president of the National Association of Vehicle Manufacturers (Anfavea), Cledorvino Belini.
The sector posted revenues of US$ 3.5 billion in February, a 9.9% increase over January and a 6.9% increase over February of last year.
The 2012-2013 sugarcane crop will be 5.4% larger than the preceding one, at 602.18 million tonnes, according to the National Supply Company.
The surplus was the result of trade operations, as the financial movement registered a deficit. Brazilian foreign currency reserves rose to US$ 365 billion.
The index which monitors the average prices of internationally priced primary goods exported from Brazil increased by 2.67% in March, according to the Central Bank.
The federal administration announced production fostering measures in Brazil. These include broader tax breaks on companies’ payrolls and lowered Brazilian Development Bank interest rates.
