The global economy continues to grapple with the aftershocks of the COVID-19 pandemic, while in other news, former Brazilian President Jair Bolsonaro is making headlines with his new business venture. This week's update covers a range of economic analyses and developments, from the impact of lockdowns to central bank actions, as well as a glimpse into Bolsonaro's entrepreneurial endeavors.
COVID-19's Lingering Economic Effects
The pandemic's impact on economies worldwide remains a central focus. Recent analyses explore the effects of lockdowns on political sentiment, with studies suggesting increased support for incumbents and trust in government. However, the benefits of social distancing are not equally distributed, raising concerns about equity.
Fiscal policies aimed at recovery are also under scrutiny, with debates on whether these measures will accelerate or hinder progress on climate change. The IMF has weighed in with their recommendations for fiscal policies to aid recovery. Meanwhile, the European Central Bank (ECB) is facing challenges, including a recent German court order questioning its bond purchases. "The ECB must demonstrate the proportionality of its actions," stated a recent report, highlighting the ongoing debate over monetary policy.
News outlets report on the struggles of various economies. Norway has cut rates to zero in response to economic shocks, while the Bank of England (BoE) warns of a significant contraction in the UK economy. China's economic data presents a mixed picture, indicating the challenges of rebooting its economy.
Bolsonaro's New Business: Graphene Helmets
Former Brazilian President Jair Bolsonaro is venturing into the business world with Bravo Grafeno, a company manufacturing graphene-based products. Graphene, known for its strength and lightweight properties, was a material Bolsonaro championed during his presidency. The company is set to launch its first collection of products, including helmets, next week. This marks Bolsonaro's debut as an entrepreneur, with his son Flávio Bolsonaro also involved in the venture.
Bolsa Família Payments Scheduled
In other news from Brazil, the March Bolsa Família payments are scheduled to begin on the 18th of the month, distributed by Caixa Econômica Federal. Payments will be made in a staggered manner based on the final digit of the Social Identification Number (NIS), continuing until March 31st.
The global economic landscape remains complex, with the ongoing effects of COVID-19 and new developments in various regions. From central bank challenges to entrepreneurial ventures, the economic story continues to unfold.
