Why the sacking of Petrobras’s boss spooked markets | The Economist

Why the sacking of Petrobras's boss spooked markets

It suggests that in Brazil liberal reforms are falling further down the agenda

THE PRESIDENT of Brazil, Jair Bolsonaro, likes to call his University of Chicago-educated economy minister, Paulo Guedes, his “Posto Ipiranga”, a chain of full-service petrol stations. The nickname charmed markets during the election campaign in 2018, but Mr Guedes's reform agenda has lost ground to populist moves aimed at winning re-election.

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