Industries and markets

Brazil’s Central Bank Cuts Interest Rate to Six Percent, Lowest Rate Since 1986

“The lower rate came amid an economic slowdown that has been more notable than expected, and a government push for social security reforms.”

Brazil is Raised to the Status of “Major non-NATO Ally” by the U.S.

“The designation was announced by the White House on Wednesday, July 31st, and gives Brazil preferential access to American weaponry and military training.”

South America expected to grow 0.2% in 2019, forecasts CEPAL

“Hit by five years of “economic slowdown,” Latin America’s economy will grow by barely 0.5% this year, the United Nations economic commission for the region said on Wednesday, well below the 1.3% projected in April.”

Trump after a trade deal with Brazil, but Brasilia says any tariffs agreements must include Mercosur members

“But Troyjo said any talks on tariffs would have to include Brazil’s partners in the South American customs union Mercosur, which includes neighbors Argentina, Uruguay and Paraguay.”

Mexico state assembly passes anti-protest law

“The bill approved Monday sets prison sentences of 6 to 13 years for demonstrators who “fully or partially block free transit of people, vehicles or other specialized machinery used in public or private works projects.”

Brazil’s Government Allocates Suspension of R$1.44 Billion in Expenditures

“The Ministry of Citizenship was the most affected, having seen R$619.166 million frozen. Education totaled R$348.471 million in suspensions.”

Finance secretary announces 485-billion-peso economic stimulus package

“Infrastructure projects and investment and consumption credits among the measures included.”

Brazil: Confaz published 26 new ICMS Conventions

On July 5th, 2019, Brazil`s National Council of Finance Policy (Confaz) decided to enter into 26 new agreements regarding specific sectors and goods as well as individual states.   Sectors affected by ICMS Changes Aviation:

Brazil: PIS and COFINS Tax on imported Goods

Imported products are subject to the PIS-imports and COFINS-imports tax which has to be paid by due by the company importing foreign goods or services from abroad.   What products and services trigger the Tax?

Paraguay will ask Brazil to leave without effect a controversial act on binational hydroelectric

“The dissemination of the document that was signed in May and established a timetable for the purchase of energy from the dam until 2022 generated questions from the opposition.”