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LatinNews Daily - 21 June 2021

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In brief: FDI to Brazil reach lowest level in 20 years

* The United Nations Conference on Trade and Development (UNCTAD) has released its World Investment Report 2021, which shows that foreign direct investment (FDI) flows to Brazil fell more than the regional and global average last year, as the coronavirus (Covid-19) pandemic led investments to fall by a third globally. According to UNCTAD, FDI to Brazil plunged 62% in 2020 to a total US$25bn, “drained by vanishing investments in oil and gas extraction, energy provision and financial services”. This brings FDI flows to Brazil to their lowest level in two decades. The sharp decline in FDI for Brazil compares with a 45% slump in FDI across Latin America (the hardest hit region amongst developing countries).