The Fund has approved a US$ 9.5 million loan to the Horn of Africa country. The amount is part of a US$ 33.9 million line of credit resulting from an agreement signed in 2008.
Browsing: Economy
The inflow funds to the Brazilian productive sector stands at US$ 2.1 billion year-to-date as of May 22nd and should reach US$ 3 billion by the 31st. In April, the total was US$ 4.67 billion.
The hydrocarbons have been found in an area drilled by Repsol, Statoil and Petrobras. According to the Spanish company, this among the most important discoveries in 2012.
The balance of payments of Brazil registered a negative result of US$ 5.4 billion, the highest value ever recorded in the month.
The foreign currency outflow from the financial market reached US$ 5.2 billion from May 1st to 18th.
The conclusion was reached in a report made by 10 organisations and disclosed by the OECD. On the other end, closed markets suffocate growth and press the labour market.
The first round of elections for president in Egypt will take place this Wednesday and Thursday. Voters will choose from among 12 candidates, including former Arab League secretary general Amr Mussa.
Economists consider the measures taken by the government of Brazil to foster industry, especially the auto sector, good, but say that the effects should not be broad like those seen before.
Brazil’s Gross Domestic Product is expected to be higher than the global average, but lower than the official forecast, according to Development minister Fernando Pimentel.
Imports amounted to US$ 4.337 billion during the same period, resulting in a trade surplus of US$ 761 million.
The deputy managing director at the IMF, Nemat Shafik, stated that the countries of the Middle East and North Africa must generate more jobs, reduce deficits and seek growth of their economies.
Analysts expect the Brazilian economy to grow by 3.09% in 2012. The estimate is lower than the previous one, which was 3.2%.
Despite exchange rates, with each dollar selling for R$ 2, economists heard by ANBA believe that Brazil will not repeal mechanisms of recent months to contain appreciation of the Brazilian currency.
A study by consultancy company Hays shows that South America is attractive to sector professionals from other countries. Brazil pays them an average of US$ 106,700 a year.
