BNDES announces $11bn coronavirus measures

Brazil's BNDES has announced a BRL55 billion ($11 billion) package of measures to soften the coronavirus blow to the economy, with a focus on job preservation. 

The measures include suspending direct and indirect loan repayments to the BNDES, transferring cash to workers' 'FGTS' severance funds, and making more resources available for micro, small and medium-sized companies. 

Last week the government unveiled a near-BRL150 billion support package, mostly bringing forward social assistance payments, deferring company taxes, and making it easier for people to access workers' severance funds.