LatinNews Daily - 19 May 2020

* A number of business representatives in Brazil have expressed concern with the lack of a clear government plan in the face of the coronavirus (Covid-19) pandemic, and the impact that this has had on economic prospects. Local news site G1 cites Ermínio Lucci, CEO of Brazilian stock broker BGC Liquidez, as saying that Brazil’s credibility and attractivity for investors is undermined by the political crisis that now compounds the economic and public health emergencies, with the departure of two health ministers in less than a month, and a lack of unity between the different levels of government in the country. Other business leaders have echoed similar concerns. This comes as the central bank’s latest Focus bulletin, based on weekly surveys of economists and market analysts, projects a 5.12% contraction of Brazil’s GDP this year, a one percentage point worsening on the forecast in the previous week’s edition.

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