FDI takes a nosedive in Brazil

. Jun 24, 2020
FDI takes a nosedive in Brazil amid pandemic, says Central Bank

Central Bank data shows that foreign direct investment (FDI) in Brazil has taken a nosedive in May 2020, falling to just USD 2.6 billion, or 69 percent less than a year ago. In the January-May stretch, the drop has been less dramatic, but still sizable: 35 percent from 2019.

That continues a trend imposed by the pandemic, which made markets more risk-averse. In April, FDI amounted to only USD 234 million — or 95 percent less than the previous year, when investments from abroad reached USD 5.1 billion.

A quick turnaround seems rather unlikely, as Brazil has become the international reference on how not to deal with the coronavirus crisis. Despite having a population much smaller than the U.S.’s, Brazil has registered more new deaths and cases per day than any other country in the world.

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Gustavo Ribeiro

An award-winning journalist, Gustavo has extensive experience covering Brazilian politics and international affairs. He has been featured across Brazilian and French media outlets and founded The Brazilian Report in 2017. He holds a master’s degree in Political Science and Latin American studies from Panthéon-Sorbonne University in Paris.

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