
An International Monetary Fund (IMF) executive board assessment of the Brazilian government’s response to COVID-19 and economically damaging restrictions cites the nation for a “strong policy response” that helped avert “a deeper economic downturn.”
In the early December document, the Washington-based IMF calls the Brazilian government’s response in 2020 to the economic consequences of COVID-19 “swift and sizable.” Adds the IMF, “The authorities implemented emergency cash transfer and employment retention programs, increased health spending, provided financial support to subnational governments, and extended government-backed credit lines to small businesses. In all, fiscal and quasi-fiscal measures amounted to 18 percent of GDP, raising the primary deficit to about 12 percent of GDP in 2020 from 1 percent in 2019.”
The people of Brazil have suffered from COVID-19. As of Dec. 29, the Johns Hopkins University COVID-19 dashboard for Brazil shows more than 7.5 million cases detected, leading to more than 190,000 deaths.
The economic consequences in 2020 also were significant, notes the IMF. “The economy is projected to shrink by 5.8 percent in 2020, followed by a partial recovery to 2.8 percent [growth] in 2021,” writes the organization. “The lingering effects of the health crisis and the expected withdrawal of fiscal support will restrain consumption while investment will be hampered by idle capacity and high uncertainty.”
The IMF Executive Board assessment concludes that “good policies had positioned the Brazilian economy to take off in 2020, but the pandemic had a severe impact on the economy.”
The group of board directors says policies in 2021 “should focus on limiting the scarring effects of the pandemic, ensuring medium-term debt sustainability, and pressing ahead with reforms to foster a robust and inclusive recovery.”
Of interest to recyclers, the document summarizing the assessment adds, “A number of directors also highlighted the importance of policies for a green recovery.”
Much of the 70-page staff report on the IMF assessment focuses on banking and fiscal policy, without taking an in-depth look at metals intensive infrastructure spending as a policy measure. Such measures in some Latin American nations seem to have contributed to a steelmaking rebound in the region.
One note on infrastructure spending includes a mention that the “IMF Technical Assistance (PIMA) mission found the most significant areas of weakness in public investment were in the strategic prioritization of spending and project selection and appraisal.”
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SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
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SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Sponsored Content
SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Sponsored Content
SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Sponsored Content
SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Adds the IMF, “Based on those findings, staff urge the authorities to develop a prioritized portfolio of high-quality projects and establishing a new, more rigorous process for project selection, appraisal and approval.”
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