Brazil Needs to Continue With Reforms to Calm Investors: CA
Source: BFW (Bloomberg First Word)
People
Henrique Meirelles (Brazil Secretaria do Tesouro National)
Michel Temer (Federative Republic of Brazil)
Vladimir Caramaschi (Credit Agricole Brasil SA DTVM/Brazil)
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UUID: 7947283
(Bloomberg) -- Only the approval of the pension regime reform will calm investors amid political instability in Brazil, Vladimir Caramaschi, strategist at CA Indosuez, says in a phone interview.
Alert: HALISTER1- Approval of spending cap bill is not enough; social security changes are crucial to fix the budget
- NOTE: President Temer pledged to send pension regime bill to Congress next week
- Market uncertainty will only mute when it’s clear that the reform agenda won’t be derailed by political troubles
- Criticism of Meirelles-led economic team reported by local press is unlikely to result in cabinet change
- “After everything Temer has spoken and done so far, it is impossible that he has no conscience that changing the economic team would damage his government”
- Clash between legislators and prosecutors, next Sunday’s protests also concerning
Source: BFW (Bloomberg First Word)
People
Henrique Meirelles (Brazil Secretaria do Tesouro National)
Michel Temer (Federative Republic of Brazil)
Vladimir Caramaschi (Credit Agricole Brasil SA DTVM/Brazil)
To de-activate this alert, click here
UUID: 7947283