Brazil govt eyes $2.2 bln extraordinary credit to fund extended aid to poor | #socialmedia

BRASILIA, June 8 (Reuters) – Brazil’s government will need at least 11 billion reais ($2.2 billion) in extraordinary credit to extend emergency cash transfers to the poor for two or three months until the COVID-19 pandemic is, hopefully, under control, Economy Minister Paulo Guedes said on Tuesday.

In an online event hosted by bank Bradesco, Guedes said he did not expect a negative market reaction to the extra spending, which would not be subject to the government’s usual fiscal rules and is a “reasonable” amount given the public health situation. ($1 = 5.03 reais) (Reporting by Jamie McGeever and Gabriel Ponte; editing by Jonathan Oatis)

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