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LatinNews Daily - 28 July 2021

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In brief: FDI to Brazil plummets in June

* Brazil’s central bank (BCB) has released the latest statistics on the external sector, which show that foreign direct investment (FDI) to Brazil fell sharply in June. Net inflows from FDI totalled US$174m, according to the BCB, compared with US$5.2bn in June 2020. This low figure is attributed to the fact that US$2.4bn were taken out of the country through intercompany transactions. In the 12 months to June 2021, FDI to Brazil totalled US$46.6bn (3.02% of GDP), down from US$51.6bn in the 12 months to May (3.38% of GDP) and US$65.8bn in the 12 months to June 2020. The BCB says the June drop in FDI is a one-off and expects net inflows of US$4.7bn from FDI in July.