PIL’s sales drop up to 62%

Powdered milk sales fell by more than 50 per cent, and sales of dairy products to social programs fell by 62 per cent, mainly due to the lack of demand for school breakfast and the reduction of the milk quota in the breastfeeding subsidy. The percentage reduction in sales affects production so that the company will reduce the stockpiling of raw materials.

Metallurgica Vinto reports a 43% drop in production

The Vinto Metallurgical Company (EMV) produced 43.2 per cent less in the 2020 management concerning what it achieved in 2019, which translates into a crisis for the company in personnel layoffs. Officially, Vinto owes $39 million to Huanuni, its largest supplier, which despite the debt, continues to deliver ore, and to Colquiri, it owes $43 million, making a total of $82 million in debts.

IDB forecasts an increase in extreme poverty from 12.1% to 14.6%

The Inter-American Development Bank (IDB) predicted a difficult recovery of the Latin American and Caribbean economy due to the debacle caused by the pandemic and announced that it would require new resources to face the emergency. The region will emerge from the crisis with higher indebtedness, poverty, and an increase in income inequality. Extreme poverty will jump from 12.1% to 14.6% due to the unemployment caused by the crisis, further deteriorating countries dependent on tourism and exporting raw materials.

Belgian company Fluxys acquires 33.3% of Total Brazil and will own 37% of TBG

Brazil's antitrust agency, CADE, approved the acquisition by Belgium's Fluxys of Total Gas & Power Brasil's 33.33% stake in BBPP Holdings, which owns 29% of Transportadora Brasilera Gasoducto Bolivia-Brasil (TBG), and will now own 37% of TBG, which operates a 2,600km pipeline network (Gasbol) that moves gas from Bolivia to Brazil. Brazil's state-owned Petrobras controls TBG, whose 51% stake is for sale. Bolivian state-owned YPFB owns the remaining 12%.