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Weekly Report - 19 March 2020 (WR-20-11)

BRAZIL: Trying to cushion the economy

As a global recession caused by the coronavirus (Covid-19) pandemic has come to seem increasingly unavoidable, economists in Brazil have been discussing the best approach to adopt in order to mitigate the pandemic’s impact on the country’s already fragile economy. Governments the world over have followed recommendations by international institutions to adopt fiscal stimulus policies, but Brazil has been slower to react. Even as the government announced a R$147.1bn (US$28.8bn) package of emergency measures on 16 March, Economy Minister Paulo Guedes continued to push for the approval of belt-tightening fiscal reforms. 

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