Finance Minister Fernando Hadda said this Monday that the Forestry Fund (TFFF), launched by Brazil to mobilize financial incentives for the conservation of tropical forests, should exceed the USD 10 billion raised during Brazil’s Presidency of COP 30 (until December 2026).
—I think it will exceed $10 billion during Brazil’s presidential term. The Netherlands, the United Arab Emirates and China have also expressed support for the fund, so Brazil is still surprised and believes it can achieve further goals, the minister said in an interview with CNN Brazil.
The Brazilian government has high expectations for the collection of the fund, which has set a goal of $10 billion. Last Thursday, Norway announced a US$3 billion investment, while Brazil received a total of US$5.5 billion.
President Luiz Inacio Lula da Silva will hold bilateral talks with German Chancellor Friedrich Merz to discuss investments in the fund. The Brazilian government hopes that Germany will follow in Norway’s footsteps. However, as revealed by GLOBO, European sources claim that this hope may be disappointed.
Meanwhile, finance ministers believe European countries should announce investments by the end of the year.
— Germany will not hesitate to support the Forest Fund, especially since the Mercosur-European Union Agreement is about to be concluded after long negotiations, and we expect Germany to announce it by the end of this year, which is also good news for the world — Haddad said in an interview this Monday.
Asked about the base interest rate set by the Central Bank (BC) at 15% a year, the highest level in the series, Haddad said Seric had room to cut rates. According to him, this opinion is also shared by bank officials.
–This view is supported by the banks I spoke to this morning, who say there is room for interest rates to fall. And it is not an individual problem, it is a systemic problem, people express their opinions, the market also expresses their opinions, the productive sector, the political class, analysts express their opinions, but it is BC who decides.
Haddad met with the Brazilian Banking Federation (Febraban) this Monday morning.
– Some of these stakeholders agree that the time for a lower cycle has already arrived. No one should be bothered by an honest discussion of these issues, Haddad said.
As GLOBO has shown, members of Lula’s government’s first echelon are ramping up pressure on B.C.’s Lula-appointed President Gabriel Garipolo to lower interest rates. The Committee on Monetary Policy (COPOM) decided at its last meeting to maintain the Selic level at 15%, expressing the idea that the base interest rate should be maintained at this level for the long term.
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