On his first day as Minister of Finance, Fernando Haddad (PT) presented the description on his new badge: “the ugly duckling of the Esplanada”.
In an improvised speech in his inauguration speech, whether by mistake or grace, the former mayor of São Paulo confirmed what was feared about his position of isolation and submission to the political command of the government.
The market reacted strongly, and the drop of more than 3% in the Ibovespa was also a correction for everything that happened since last Friday (30th), when there was no trading session due to the year-end recess period. Those who complain about Faria Lima’s reaction argue that it was never a secret that President Luiz Inácio Lula da Silva (PT) would be the “super-minister” of his own government.
The surprise lies in the haste with which the PT wing took over decision-making, and Haddad’s effort at moderation was contained (or is being) before he convinced everyone that it exists.
In the account of the collapse of the Stock Exchange, there was still a 6.45% drop by Petrobras and the worsening of expectations for the 2023 inflation, which could affect the credibility of the Central Bank (BC).
In this Tuesday’s episode (3), CNN Money also features an exclusive survey on the government’s defeat in extending the fuel exemption, which will cost the public coffers R$ 25 billion.
Presented by Thais Heredia, the CNN Money it presents a balance of the news subjects that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.
*Posted by Tamara Nassif
Source: CNN Brasil
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
