The Social Security reform ended up in the CCJ (Commission of Constitution and Justice) of the Chamber of Deputies. The draftsman of the text of the Pension Reform, Deputy Marcelo Freitas, did not appear in the session.
CCJ president Felipe Francischini, also from the party of the government of Jair Bolsonaro, the PSL, said that Freitas was at a meeting on the text of the Pension Reform, so he had failed. Nevertheless, Freitas had confirmed his presence in the session and, therefore, did not need to have a physical presence. Opposition MPs did not accept Francischini's response and went to the presiding board to pressure him. The session then became a big bustle and ended up being closed.
Freitas, who is from the government party, simply did not appear in Congress. This led to voting in the CCJ for after Easter.
That made the Ibovespa index, the main stock index of the country, to fall at the end of the day. Ibovespa fell 2% after a Social Security vote was postponed at CCJ. The dollar rose 1% and surpassed the R$ 3.94.
Showing posts with label Real. Show all posts
Showing posts with label Real. Show all posts
Wednesday, 17 April 2019
Wednesday, 3 April 2019
Speech of Brazilian Economy Minister in Congress overturns Stock Market
The Ibovespa, the main index of the Brazilian Stock Exchange, ended the day falling 0.94%, to 94,491.48 points. This is the lowest level in a week.
This change in the behavior of the Financial Market was a fruit of the defense of the Pension Reform, in the Chamber of Deputies, made by the Minister of Economy, Paulo Guedes.
The minister, who had already discussed harshly with Senator Kátia Abreu during his defense of the Pension Reform in the Brazilian Senate last week, was again criticized by the opposition for not presenting figures and studies to defend the Pension Reform today.
Due to this performance and the uncertainties that it generated, the dollar returned to increase by 0.54% and closed the day with the quotation of R$ 3.8790.
This change in the behavior of the Financial Market was a fruit of the defense of the Pension Reform, in the Chamber of Deputies, made by the Minister of Economy, Paulo Guedes.
The minister, who had already discussed harshly with Senator Kátia Abreu during his defense of the Pension Reform in the Brazilian Senate last week, was again criticized by the opposition for not presenting figures and studies to defend the Pension Reform today.
Due to this performance and the uncertainties that it generated, the dollar returned to increase by 0.54% and closed the day with the quotation of R$ 3.8790.
Friday, 29 March 2019
Dollar reaches R$ 4.00 and scares Brazilian economists
A public discussion between the President of the Republic Jair Bolsonaro and the president of the Chamber of Deputies Rodrigo Maia made the financial market nervous this week.
Yesterday, March 28, the tourism dollar reached R$ 4.20 and euro at R$ 4.70. As a result, the day was turbulent in the Brazilian financial market.
Today, March 29, the commercial dollar opened the session with a fall of 0.84%, being traded at R $ 3.8830 for sale and R $ 3.8810 for purchase.
To make matters worse, unemployment continues high despite improvements in recent months. In the quarter ended in February, the unemployment rate in Brazil was 12.4%, according to data from the National Survey for Continuous Household Sample (Pesquisa Nacional por Amostra de Domicílios Contínua - PNAD) published today by the Brazilian Institute of Geography and Statistics (IBGE). In the same period in 2018, the unemployment rate measured by PNAD was 12.6%.
According to Eduardo Moreira (former partner of Banco Pactual), there is a fugue of investors from Brazil. For Moreira, a critic of the Bolsonaro administration, the first three months of government did not present any type of project and indicated a fragility in the president's capacity for articulation with the National Congress.
Yesterday, March 28, the tourism dollar reached R$ 4.20 and euro at R$ 4.70. As a result, the day was turbulent in the Brazilian financial market.
Today, March 29, the commercial dollar opened the session with a fall of 0.84%, being traded at R $ 3.8830 for sale and R $ 3.8810 for purchase.
To make matters worse, unemployment continues high despite improvements in recent months. In the quarter ended in February, the unemployment rate in Brazil was 12.4%, according to data from the National Survey for Continuous Household Sample (Pesquisa Nacional por Amostra de Domicílios Contínua - PNAD) published today by the Brazilian Institute of Geography and Statistics (IBGE). In the same period in 2018, the unemployment rate measured by PNAD was 12.6%.
According to Eduardo Moreira (former partner of Banco Pactual), there is a fugue of investors from Brazil. For Moreira, a critic of the Bolsonaro administration, the first three months of government did not present any type of project and indicated a fragility in the president's capacity for articulation with the National Congress.
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