Bolsonaro's economic guru urges quick Brazil pension reform

Bolsonaro's economic guru urges quick Brazil pension reform

Bolsonaro's economic guru urges quick Brazil pension reform

Rio de Janeiro, Oct 31: Hundreds of Brazilians, mostly students, on Tuesday demonstrated protest in some cities of the country against the President-elect Jair Bolsonaro, and demanded that he respects democracy during his term in office.

"Lula-PT-ism has become corrupt and corrupting, and it created an opposing force that is now the biggest force in Brazil".

He said the media had unjustly described Cuba's former leader, Fidel Castro, as a president while calling Joao Figueiredo, who ruled Brazil during the final years of its dictatorship, a dictator.

"The United States are in the process of regaining what has been lost in Latin America (during the 2000s), in a context of global struggle with China for natural resources, markets and political support", adds Mr. Seman about Jair Bolsonaro, an admirer said of Donald Trump.

At 4.53 percent, inflation is now near the middle of the bank's target range of 2.5 to 6.5 percent, and Sunday's election win by debt hawk Bolsonaro further bolstered the argument to keep the rate on hold. Paulo Guedes, an economist educated at the US University of Chicago, has advocated for tax and spending cuts that he believes will reverse the country's deficit.

His election alarmed critics around the globe, however, given his defense of Brazil's 1964-1985 military dictatorship, vows to sweep away leftist political opponents, and a track record of denigrating comments about gays, women and minorities.

He's also lauded the Brazilian people for conducting a successful election.

Earlier in the day, Environment Minister Edson Duarte said in a statement that he was surprised and concerned by the announcement about plans to combine the agriculture and environmental portfolios. The inverse could be true if Bolsonaro himself takes charge. We urge you to make it one that leaves Brazil - and the world - a more just, more sustainable and more equal place than you found it.

The anti-establishment wave that Bolsonaro rode to victory was fueled partly by anger over the findings of Moro's investigation.

Brazil's national industry confederation criticized the idea. Mariscal said equities remain cheap, the Real is "reasonably priced" and bonds, which have been performing well, still have upside.

The next steps towards consolidation, according to IHS Markit associate director, country risk, Carlos Caicedo, will be to see if Bolsonaro brings forth a solid pension reform plan during his inauguration in January. In February, it's "crunch time" because he has to elect the head of the lower house and the head of the senate.

"That's where I think there's a bit of wishful thinking in the market", Caicedo said.

Soon after, Chinese President Xi Jingping's administration sent Bolsonaro a letter saying the tour caused "possible turbulence in the strategic partnership between Brazil and China".

"They always accuse others of being what they are themselves", he said.

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