Eldorado Brasil has sent its first pulp shipment in yuan to China. Instead of dollars, they used the Chinese renminbi for payment. The company’s CFO, Fernando Storchi, announced the news. The Bank of China helped with this pilot move. The aim is to open new credit options in China. The shipment was sent on the […]
Related Posts
In July, the Brazilian government continued to incur debt
In July, the Brazilian government continued to incur debt. Lula’s government debt increased to 74.1% of its GDP, up 0.5% from June. This means the debt increased from R$7.6 trillion ($1.57 trillion) to R$7.7 trillion ($1.59 trillion). The Central Bank shared this information on August 31, 2023. This debt includes money owed by federal, INSS, […]
A Tale of Two Central Banks: Uruguay Thrives, Argentina Falters
Diego Labat, Uruguay’s central bank chief, oversees an economy with its lowest inflation in two decades and a strong currency. The nation leads in cutting interest rates in the region. In contrast, Argentina faces high inflation at 124%. Its currency is weak, and foreign reserves are negative. Years ago, Uruguay was sensitive to Argentina’s economic […]
Oil Prices Slide Amid Economic Signals
Oil futures fell about 2% last Friday, following the trend of other industrial commodities. A strengthening dollar contributed to this, as expectations for a March interest rate cut diminished. The Federal Reserve’s ability to start reducing rates by May is now in question. This shift came after strong U.S. employment and consumer sentiment reports, moving […]