Brazil: Covid-19 and the road to recovery by Fernanda Nechio and Bruno Serra Fernandes published by BIS (2/2021)
Worldwide, fiscal and monetary authorities responded with unprecedented measures to the Covid-19 crisis, providing lifelines to households and firms, as well as safeguarding the functioning of credit and financial markets. The Central Bank of Brazil lowered its policy rate to a record low and implemented measures to increase liquidity and ease capital requirements. The government implemented a sizeable income transfer programme to households and several credit programmes targeting small and medium-sized businesses, among other initiatives. The Brazilian economy recovered strongly in the second half of 2020 and should continue on its path to recovery as the pandemic recedes.
