According to the Central Bank, the consolidated public sector’s nominal deficit rose by R$494 billion ($98.8 billion) within a year. Finance Minister Fernando Haddad, seen with a worried expression, highlighted in 2023 the impact of the high Selic rate on the fiscal deficit. The nominal outcome, which includes debt interest payments, reached a deficit of […]
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Monday’s African Short News Roundup
This comprehensive overview encapsulates significant economic and political developments from various African nations and their international engagements. We delve into Angola’s banking sector, facing a notable decline in excess reserves, indicative of broader economic pressures. Meanwhile, Rwanda seeks to bolster economic relations and secure substantial trade deals at the Indonesia-Africa Summit. In Lesotho, the diamond […]
Nearly one-third of Colombian households experience high levels of food insecurity
Approximately 28.1% of households in Colombia experience severe or moderate food insecurity, meaning they have had to reduce the quantity and quality of food consumed at least once in the past year, according to data released by the Government and the Food and Agriculture Organization (FAO). Additionally, 4.9% of households faced severe food insecurity, where […]
Brazil’s Selic cut to 13.25%: Corporate interest rates remain at 20% despite central bank move
The Central Bank has cut the Selic, Brazil’s key interest rate, to 13.25% annually after almost a year without changes. Despite this reduction, corporate loans are likely to continue to have interest rates around 20%. According to the monetary and credit statistics released by the authority for June 2023, the average interest rate for legal […]