The Central Bank recently announced the reduction of the taxed interest rates of the Coffee Economy Defense Fund (Funcafé). The decision, taken last Wednesday (18) by the National Monetary Council (CMN), was a cut from 7% to 6%.
The National Coffee Council (CNC) had already announced this possibility for this time, after the sector's request as a way of relieving the cash of businessmen, valid from July 1st.
Of the 6% rate, 3% is for the Fund's feedback and flexibility between 0% and 3% for bank spread in the funding lines for Costing, Commercialization, Coffee Recovery and FAC and Working Capital for Production Cooperatives.
For the FAC and Working Capital lines aimed at other borrowers, with the exception of production cooperatives, interest was reduced to up to 7.5%, maintaining Funcafé's 3% feedback and flexible spread from 0% to 4.5 %.
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