• Categories
  • Archives

Rubber Checks Fall 14% in Brazil, But Value of Bounced Checks Is Up 36%

Brazilian bank checkBrazil’s Serasa Exerian Corporate Default Index fell to 14.6% in January. At the height of the financial crisis, in Jan 2009, it was 28.9%. Serasa Exerian is Latin America’s largest credit bureau, with the continent’s most extensive data bank on consumers, corporations and economic groups.

Serasa found that in a year-to-year comparison (January 2009 and January 2010), in large corporations there was a significant drop in defaults of over 36%. In the medium size group, the reduction in defaults was 25.7%. But in the small corporate group, where there are still problems obtaining credit, the reduction was only 12.9%.

Bank loan defaults were stable in Jan 2010, while there was a 14.5% drop in rubber checks. But the average value of checks that bounced in January 2010 rose 36% to 1,932.71 reais (US$ 1.087,01) compared to January 2009.

Exchange Deficit

Brazil registered a net outflow (inflow already discounted) of US$ 399 million in February, according to figures disclosed by the Central Bank of Brazil (BC). In the same month last year, there was net inflow of US$ 841 million.

The negative result was influenced by a US$ 2.285 billion outflow of dollars for commercial operations (exports, imports and financing to the sector). In the financial sector (investment in shares, transfer of profits and dividends abroad and foreign direct investment, among other operations) there was a net inflow of US$ 1.886 billion.

In the accumulated result for the year, there was net inflow of US$ 676 million. In the same period last year, there was outflow of US$ 2.177 billion. In the period, exchange operations registered net outflow of US$ 2.425 billion, whereas financial operations resulted in an inflow of US$ 3.101 billion.

The BC also informs that dollar purchases on the spot market expanded international reserves by US$ 350 million in February this year. In January, the total was US$ 1.709 billion.

Abr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Promoting in Brazil Middle East’s Way of Prophet Abraham

Some of the objectives of the "Abraham Path Initiative" are promoting cultural exchange and ...

Brazil Shoe Maker Grendene Boosts Revenues from Foreign Sales by 23%

Brazil's shoe manufacturer Grendene boosted by 12% its gross revenues in the third quarter ...

Brazil and Australia Sign Education Accord

The Ministers of Education of Brazil, Tarso Genro, and Australia, Brendan Nelson, have signed ...

Good Prospects for Brazil Don’t Prevent Market Fall

Latin American stocks slumped again this Wednesday, March 8, amid ongoing concerns over rising ...

Flooded with Cash, Saudis Arrive in Brazil Ready to Invest

Four important Saudi executives are arriving in Brazil today to learn more about the ...

In Brazil, 30% of Inmates Are 24 or Younger. Still There’s No Program to Educate Them

The report,”Moving Agreements on from Paper,” drafted by more than 40 NGO’s (non-governmental organizations) ...

Greenpeace Urges in Brazil Ban on Terminator Technologies

Greenpeace called upon the 188 states at the 8th meeting of the Convention on ...

Collegeless Join Homeless and Landless in Brazil

The Sans University Movement (MSU) pledges its support and promises that it will be ...

Brazil Gets US$ 1.3 Billion from World Bank for Environment Control

Brazil is going to get an US$ 1.3 billion loan from the World Bank ...

Safety in Rio: Don’t Trust the Statistics

Rio de Janeiro is a big city with a big crime problem. How bad ...