RIO DE JANEIRO, BRAZIL - The federal government has just announced new measures to contain the damage to the economy caused by the spread of the coronavirus in Brazil. The package is aimed at small and medium-sized companies (SMEs), with annual revenues between R$360,000 (US$72,000) and R$10 million.
There will be a R$40 billion credit line (R$20 billion per month) that is exclusively intended to finance two months' worth of payroll costs, with a maximum limit of up to two minimum wages.
For instance: if an employee's salary is one minimum wage . . .