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LatinNews Daily - 21 May 2020
In brief: Foreign capital pouring out of Brazil
* Brazil’s central bank (BCB) has released the latest figures on foreign exchange flows, which show that between January and 15 May this year there was a net outflow of US$10.39bn from the country. This compares with an inflow of US$5.7bn over the same period in 2019. Although Brazil saw a record outflow of US dollars in 2019, this sharp increase in the negative foreign currency flows in the first months of 2020 can be largely attributed to the effects of the coronavirus (Covid-19) pandemic, with investors withdrawing US$33.356bn from the country’s financial markets so far this year.
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