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National Congress promulgates Constitutional Amendment that establishes extraordinary fiscal regime and allows purchase of assets on the secondary market by BACEN

On May 7, 2020, the National Congress (“CN”) enacted Constitutional Amendment No. 106 (“EC 106”), which establishes an extraordinary fiscal, financial and contracting regime to face public calamity resulting from the pandemic. Originating from the Proposed Amendment to the Constitution No. 10, EC 106 was born with the objective of separating the budget and expenses incurred to combat COVID-19 from the General Budget of the Union.

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