Brazil to spend an extra $1 billion on producing, acquiring COVID-19 vaccines

BRASILIA (Reuters) - Brazil's government will direct an extra 5.5 billion reais ($1.05 billion) of federal spending towards the production, supply and distribution of COVID-19 vaccines, President Jair Bolsonaro's office said in a statement on Monday.

The statement was issued shortly after Bolsonaro issued a presidential decree. The funds will come from an extraordinary line of credit and show the government's commitment to tackling the health and economic crises sparked by the pandemic, the statement said.

(Reporting by Ricardo Brito; Writing by Jamie McGeever; Editing by Rosalba O'Brien)