Bolsonaro effectively concedes in Brazil after Trump suggests he won’t help
- On Sunday, President Luiz Inacio Lula da Silva won a fourth term, defeating challenger Senator Flavio Bolsonaro in the run-off. The Brazilian real subsequently experienced its largest daily decline since at least 2002.
- Goldman Sachs analysts project the dollar could rise about 12% against the real, as investors express concerns that the incoming administration will run larger fiscal deficits.
- Brazil's main stock index, the Ibovespa, fell 13.9% on Monday as investors reassessed the nation's economic outlook, while retail chains like Magalu lost up to 59% of their value.
- Downgrades from Citigroup and BCA Research followed the recent market slump, with analysts citing weaker growth prospects. Citi also closed its overweight equity position, noting the risk-reward profile has worsened.
- The new administration must secure support from a conservative Congress to pass its 2027 agenda, while global markets monitor how currency shifts affect Brazil's agricultural export competitiveness, including its more than 60pc share of world soybean exports.
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409 Articles
Flávio Bolsonaro says he plans to run for Brazil's presidency again after leaving the country
Brazilian presidential candidate Flávio Bolsonaro, who is in the U.S., says he plans to run again before 2030. Bolsonaro left Brazil after he lost the election to Lula and the supreme court ordered
The former right-wing presidential candidate Flavio Bolsonaro, who left the country after his defeat, on Friday justified his escape by a "persecution" he claims to be victimized. ...
He still does not accept defeat and says Lula will end up being overthrown "before what many imagine" for his economic measures. More information: Flávio Bolsonaro declares himself "president-elect of Brazil" in a letter that erases: then he merely proclaims himself "leader"
The former Brazilian presidential candidate again accused irregularities in the elections, although he did not present evidence, and warned that an economic crisis could precipitate the fall of Da Silva’s fourth government. In addition, he did not rule out re-disputing the Presidency before 2030 and explained the reasons for his departure from Brazil.
In US, Flavio Bolsonaro claims he did not run from Brazil — he ‘left for Brazil’
BRASÍLIA, Oct 31 — Former conservative presidential candidate Flavio Bolsonaro said Friday that he fled Brazil to the United States because he was a victim of “persecution” in his country.Bolsonaro, who lost Sunday’s election runoff to President Luiz Inacio Lula da Silva, secretly left Brazil on Tuesday and arrived in Florida aboard a private jet on Wednesday after travelling through Argentina and Ecuador.“The persecution began even sooner than …
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