Brazil Daily

Germany to cut funds for Amazon preservation

Good morning! In today’s issue: Germany pulls out of the Amazon Fund. Argentina held its primary elections yesterday, and the results are set to stoke volatility in South American markets. Spending on infrastructure reaches the lowest in three years. 

Germany to cut funds for Amazon preservation

In a move that reflects “great concerns with increasing deforestation in the Brazilian Amazon,” the German government decided to freeze USD 39m in funds to finance projects aimed at protecting the Amazon rainforest. The decision reportedly concerns only funds destined to projects by the Environment Ministry. President Jair Bolsonaro shrugged when asked to comment...

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