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MANAUS, Brazil (AP) — Communities dependent on the Amazon rainforest's waterways are stranded without supply of fuel, food or filtered water. These are just the first grim visions of extreme drought sweeping across Brazil’s Amazon. Raimundo Silva do Carmo, 67, makes his living as a fisherman, but these days has been struggling to simply find water. Like most rural residents in Brazil's Amazon, do Carmo typically retrieves water untreated from the biome's abundant waterways. The drought has affected most of the main rivers in the Amazon, the world’s largest basin, which accounts for 20% of the planet’s fresh water.

Persons: Raimundo Silva, Carmo, ” Joaquim Mendes da Silva, ”, Edvaldo de Lira, Ana Paula Cunha, Marcus Suassuna Santos, Brazil’s, Ane Alencar, Alencar, Luiz Inácio Lula da Silva’s, Geraldo Alckmin, Ayan Fleischmann, Fleischmann, Flávia Costa, Fabiano Maisonnave, Eléonore Hughes, Diane Jeantet Organizations: Associated Press, Geological Survey, Amazon Environmental Research Institute, Bolsa, Sustainable Development Institute, National Institute for Space Research, National Institute of, AP Locations: MANAUS, Brazil, Brazil's, Puraquequara, Amazonas state's, Manaus, “, CEMADEN, Amazonas, Parana, Lake Puraquequara, Equatorial, Rio Grande do Sul, Madeira, Bolivia, Porto Velho, Santo Antonio, Negro, Bolsa Familia, Solimoes, Madeira —, Lake Tefe, rocketed, Brasilia, Rio de Janeiro

☆ Brazil's record 2023 bond bill underscores rising debt burden
▼ + stars: | 2022-12-26 | by ( Marcela Ayres | ) www.reuters.com time to read: +2 min

Redemptions on the LFT bonds, which are linked to benchmark interest rates, will reach 464 billion reais ($89 billion) in 2023, with 178 billion reais due in March and 286 billion in September. Former Treasury Secretary Mansueto Almeida pointed to real interest rates - adjusted for inflation - of above 6% over the longer term. "If the next government doesn't present and clarify a new fiscal rule soon, we'll be left with this very high interest rate," said Mansueto, now chief economist at BTG Pactual. Otherwise, it will hurt private investment a lot and lead to a very worrying trajectory of public debt growth." Brazil's public debt is expected to close this year at around 74% of GDP, its lowest since 2018.

☆ Key Brazil senator pushing to waive at least $19 bln from spending cap
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Nov 23 (Reuters) - Brazilian Senator Marcelo Castro said on Wednesday that a constitutional amendment backed by President-elect Luiz Inacio Lula da Silva must exempt at least 100 billion reais ($19 billion) from a constitutional spending cap next year. In an interview with Reuters, Castro, the key lawmaker handling 2023 budget talks, said the initial idea of permanently excluding the "Bolsa Familia" welfare program from the spending ceiling had "lost a lot of strength." Lula's transition team first proposed to remove the Bolsa Familia program from the spending cap indefinitely, opening space for 175 billion reais in new spending. The initial proposal also removed some public investments from the cap, opening room for another 23 billion reais in public spending next year. ($1 = 5.3907 reais)Reporting by Ricardo Brito and Bernardo Caram; Writing by Marcela Ayres; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

That would surpass the October 2020 peak of 89% in the central bank series dating back to 2006. "It reduces the degree of freedom for the central bank to manage monetary policy," said Ramos. Brazil's central bank has held interest rates at 13.75% since August, after 12 straight hikes that lifted rates from a 2% record low in March 2021. Lula campaigned openly against the constitutional spending cap that limits spending growth to inflation. The proposal also removes some public investments from the cap, opening space for another 23 billion reais in public spending next year.

Investors have called for Lula to restore firm rules for public spending after major outlays by outgoing President Jair Bolsonaro through the pandemic and election campaign. Instead, Lula is pushing to dismantle old budget rules to ramp up social spending. Senator Simone Tebet, of the centrist Brazilian Democratic Movement party (MDB), said the economy minister should be his first cabinet pick to make clear what his policies are going to be affecting the economy. "An economy minister is needed to explain the president's political thought," she told reporters. The rout made clear that many investors want to see more clarity over ministerial appointments and how Lula aims to stabilize Brazil's public finances.

☆ Factbox: How governments are trying to ease inflation pain
▼ + stars: | 2022-08-08 | by ( ) www.reuters.com time to read: +5 min

* Mexico will raise the minimum wage by 20% next year after an agreement was reached between employers, labour representatives and the government. EUROPE:* European Union countries are racing to reach a deal on a gas price cap by Dec. 13. The bloc's members are considering a slightly lower gas price cap than the one proposed by the European Commission, documents seen by Reuters showed. * Slovakia will spend 6 billion euros to cap energy prices for households next year. * Tunisia's government in September signed a deal with a major labour union to raise public sector pay and the minimum wage.

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