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Devaluation good for Brazil’s economy — Envoy

With rising inflation, unemployment, tightening of operational credit, and diminishing domestic consumption, the Brazilian government had to devalue its currency, the Real, in order to facilitate trade and market access. Her Excellency, Maria Auxiliadora Figueiredoá, the Brazilian Consul-General in Lagos stated this at the quarterly breakfast meeting of the Nigerian-Brazilian Chamber of Commerce and Industry (NBCCI).

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