LatinNews Daily - 04 May 2020

* The Brazilian senate has approved, with 79 votes in favour and one against, a R$125bn (US$22.79bn) package for state and municipal governments to help them weather the coronavirus (Covid-19) emergency and its economic impact. Of this total sum, R$60bn would be disbursed directly to state governments and municipalities in four monthly installments, with R$10bn destined exclusively for healthcare and R$50bn to make up lost income. The remaining funds would come from the suspension or restructuring of debt repayments. In counterpart for this financial aid, the federal government would freeze the salaries of public sector workers at municipal, state, and federal level until the end of 2021. This bill was proposed by the senate as an alternative to a plan for financial assistance voted on by the chamber of deputies earlier in April but which was criticised by the federal government for being fiscally unsustainable. It now goes to the chamber of deputies, which is expected to vote upon it today (4 May). 

End of preview - This article contains approximately 168 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial