Stênio Ribeiro
Repórter da Agência Brasil

Brasília – The amount of credit provided by the Brazilian financial system in January reached US$ 285.89 billion (R$ 608.87 billion), the equivalent of 31% of GDP, and an increase of 20% since January 2004.

However, Altamir Lopes, a Central Bank director, points out that compared to December, the increase was a weak 0.3%, which he calls "an activity accomodation." Lopes explains that in January there was a reduction in the volume of credit operations in industry, commerce and the services sector, while they increased in the area of personal loans - with people seeking to pay taxes and school expenses.

Translation: Allen Bennett