Brazilian president Jair Bolsonaro says he knows how the father of the President of the Brazilian Bar Association (OAB) was murdered during the Military Dictatorship and the Brazilian public responds by creating the hashtag #AgoraFalaBolsonaro

President Jair Bolsonaro has cowardly attacked Brazilian Bar Association president Felipe Santa Cruz, saying he could "tell the truth" about how his father disappeared during the military dictatorship (1964-1985).

"One day, if the president of the OAB wants to know how his father disappeared during the military period, I tell him. He won't want to hear the truth," said the Brazilian president.

Felipe was only two years old when his father, Fernando Augusto de Santa Cruz Oliveira, a member of the Popular Action Group (AP), an organization opposed to the military regime in Brazil, was arrested by the government in 1974 and was never seen again. Fernando's body was never found.

The president's speech provoked a wave of protests from the most varied members of Brazilian civil society and the country's politics. São Paulo governor João Dória, who supported Bolsonaro during the presidential campaign in 2018, said the statement was "unacceptable".

Amnesty International's executive director, Jurema Werneck, repudiated this afternoon about the statement by President Jair Bolsonaro regarding the death of Fernando Augusto Santa Cruz de Oliveira, one of the missing politicians during the military dictatorship in Brazil. Fernando was the father of the current president of the Brazilian Bar Association, Felipe Santa Cruz.

The OAB itself issued a note of repudiation of Bolsonaro's statement about the entity's president's father.

The hashtag #AgoraFalaBolsonaro (Speak now Bolsonaro) is filled with messages stating that if the president knows what happened during the military dictatorship he has a statesman obligation to explain what happened to Fernando. Then, after the immense repercussion of the president's terrible speech, Bolsonaro ended by claiming that Fernando was killed by leftist militants. 

However, an Air Force Report on the case of Fernando's death belies Bolsonaro. Thus, the president's phrase goes down in history as one of the most shameful moments of the Brazilian executive power.

There is even a death certificate for Fernando Augusto de Santa Cruz Oliveira. The document was issued by the Special Commission on Political Dead and Missing Persons, published to the Ministry of Women and Human Rights on a federal government website that Bolsonaro runs. Bolsonaro's speech, besides being abject, is also a liar.

Banco do Brasil (BBAS3) approves series of measures to reorganize the state-owned company

The Banco do Brasil announced today trials of measures aimed at reducing staffing. The institution's Board of Directors has approved a set of actions for institutional reorganization that should result in dismissals of employees.

The announced measures should completely resize the state's organizational structure at the strategic, tactical, support, and business levels. Meaning general management, superintendencies, regional bodies, and agencies.

The state company also announced the creation of an area focused on artificial intelligence and analytics. The bank also stated that it intends to transform 333 branches into Advanced Attendance Points (PAA), that is, increasing the automated attendance.

Brazilian financial market bets on Selic interest rate cuts in Brazil

Interest rate cuts in Brazil are more than priced on curves. Now, after the approval of the first-round Social Security Reform in the Chamber of Deputies, the Brazilian financial market expects the next Copom meeting to decide to cut the basic courses of the Brazilian economy.

Currently, Selic is at 6.5% per year. The Brazilian financial market bets on a cut of at least 0.25%. There are also those who bet on a 0.50% cut.

The Focus Report released today by the Brazilian Central Bank presented a scenario of the Brazilian economy without major changes. According to Focus, there is an upward trend in the exchange rate in Brazil – the projected exchange rate for 2020 remains at R$ 3,90 – which indicates that foreign investors have not yet raised their capital in Brazil.

With a profit of r$ 2.6 billion, Ambev (ABEV3) rises almost 8% and leads Ibovespa highs

Ambev, the largest Brazilian producer of beverages, increased net income in the second quarter of 2019 by 8.5% over the same period in 2018. The excellent performance was due to the reduction in the company's financial expenses, according to the balance released today ( July 25, 1919).

In the first trades on Thursday morning at Bovespa (B3), Ambev (ABEV3) shares are trading with a strong 8.30% appreciation at R $ 19.45, leading the Ibovespa gains.

Economists believe that releasing just R$ 500 per person at FGTS will culminate in another chicken flight to the Brazilian economy

The release of about R $ 30 billion should be positive, but it should not change much the scenario of economic growth of Brazilian GDP in 2019. Overall, the forecast revisions for GDP in 2019 were very marginal. Nothing very expressive. Most analysts point to a growth of about 0.8% of GDP in 2019, ie very small.

For the former president of BNDES and former Minister of Communications, economist and engineer Luiz Carlos Mendonça de Barros, the measures presented by the government are timid to leverage the Brazilian GDP.

Economy Minister Paulo Guedes himself said in early June 2019 that releasing FGTS money before pension reform would be a “chicken flight”. Now, even though the pension reform is not fully approved, the government decides to adopt the measure.

Yesterday, during the measure's presentation ceremony, Guedes said the FGTS withdrawal will be a permanent income, not "chicken flight," as he himself had said.

For Maranhão Governor Flávio Dino, the "release of the FGTS is a good measure, but it is a trickle in the ocean of national recession."

Dino believes that “the expansion of public works is urgent. It is an emergency debt relief program to improve demand. There are ways. But we need to focus on Brazil. ”

Dino thus criticizes the policy of the current government, which is openly aimed at pleasing the international bond market.

Flavio Dino was verbally attacked by President Bolsonaro during a private conversation with the Chief Minister of the House, Onyx Lorenzoni, captured by TV microphones a few days ago.

Bovespa (B3) closed higher in Brazil after the privatization of BR Distribuidora (BRDT3) and the announcement of FGTS money release

The main index of the São Paulo Stock Exchange (B3), the Ibovespa, closed up today, at 104,119 points, after rising 0.4%. The main reason was the privatization of BR Distribuidora. 

The main index of the São Paulo Stock Exchange (B3), the Ibovespa, closed up today, at 104,119 points, after rising 0.4%. The main reason was the privatization of BR Distribuidora. 

BR Distribuidora was up 5% on the stock market after the sale of shares made by Petrobras.

The market also considered positive the policy for the Government Severance Indemnity Fund (FGTS) and PIS-Pasep Fund quotas announced by the government. Workers can now withdraw up to R$ 500 from each active or inactive FGTS account (from current or previous employment).

Petrobras (PETR4) announces sale of control of subsidiary BR Distribuidora (BRDT3)

Petrobras, Brazil's largest state-owned company, has sold more than 30% of the shares and announced that it will reduce its stake in the subsidiary to 37.5%.

According to a statement issued by the state company, Petrobras' board of directors approved the sale of 349,500,000 shares, at R $ 24.50 per share. This corresponds to R $ 8.5 billion. Upon completion of this transaction, Petrobras will hold only 41.25% of BR Distribuidora, thus, Petrobras will reduce its stake in BR Distribuidora from 71% to 41%. This means that in practice BR was privatized.

In 2017, during Michel Temer's government, Petrobras had already sold 28.75% of BR shares, raising about R$ 5 billion.

UN hunger fight projects resources halted due to lack of approval from the Brazilian Ministry of Economy; Fight against hunger in Brazil suffers from the government of a president who insists that this problem does not exist or is very small in the country

Brazil has over 45 million dollars in hunger-fighting projects that are stalled. These resources could finance projects through the International Fund for Agricultural Development (IFAD), the UN agency to fight rural poverty and hunger. Investments, however, have not been halted since 2018 due to lack of approval by the foreign finance commission of the Ministry of Economy led by Paulo Guedes.

The main difficulty in allowing the release is the Union's inability to repay, which cannot be a guarantor of loans.

On July 19, at a coffee shop with international correspondents in Brasilia, President Jair Bolsonaro said that Brazil did not suffer from the problem of hunger. On the same day, Brazil's president's statement on hunger in the country was rebutted by data and experts.

In this coffee, with the journalists, Bolsonaro said: "Talking about starving in Brazil is a big lie". Later that day, pressured by the flood of criticism he received inside and outside the country, Bolsonaro turned back and said only a "small part" of the population suffered from hunger. In fact, more than 5 million people suffer from the scourge of hunger in Brazil.

However, the UN Food and Nutrition Security Outlook Panorama Report 2018, released in November by the UN, showed the rise in hunger in Brazil. The study estimated that malnutrition reached up to 5.2 million Brazilians between 2015 and 2017, compared to the 5.1 million estimated for the three years 2014-2016 and 2013-2015. In the 2000-2002 triennium, 18.8 million Brazilians suffered from hunger. 

This meaningless debate started by the president is a catastrophe for the hunger control programs in Brazil. Meanwhile, other less urgent projects are being tabled by this government, for example the decree to facilitate gun possession or the project that eliminates fines for transporting children without car seats or starting studies to include the terms "father" and "mother" rather than "parents" in the fields intended for membership in the Brazilian passport documentation.

Meanwhile, major resources for fighting hunger in the countryside have been stalled since 2018 because the country has not paid back a loan to the Union.

This indicates that the current government does not know what the country's real priorities are and continues to spend time and resources on debates that are completely innocuous.

Guajajaras and Awá tribes unite in Brazil to protect the forest from fire and deforestation

With their lands under constant attacks by loggers, the tribes of Guajajaras and Awás united in Maranhão to protect the forest.

In total there are more than 14 thousand Guajajaras Indians from more than 150 villages. In recent months, they have come into contact with the Awás, a tribe that lived in isolation within the forest.

Filmmaker Flay Guajajara has produced a film, "Ka'a Zar Ukyze Wà - The Owners of the Forest in Danger", to be released today, in Sao Paulo, which shows the meeting of the two tribes.

Located in the Araribóia indigenous land in Maranhão, they are one of the last hunter and gatherer peoples in the world and, according to experts, may have their days numbered if the destruction of the forest does not stop.

Now with Jair Bolsonaro's government, deforestation is growing to frightening levels.

China reopens its market for Brazilian milk powder and cheese

The Minister of Agriculture of Brazil, Tereza Cristina, today celebrated the decision of China, the largest importer of dairy products in the world. According to her, Brazil produces about 600 million tons of milk powder.

The Brazilian dairy sector can benefit greatly from this decision. This will raise the price of the bed in Brazil and strengthen this sector of the Brazilian economy.

In August, the minister of agriculture of Brazil should visit China for new talks.

Cost of living in Brazil: fall in fuel prices causes the Extended National Consumer Price Index 15 (IPCA-15) to rise only 0.09% in July

Increases in airfare and electricity prices in Brazil were not sufficient to produce a big rise in inflation in July 2019. The Broad National Consumer Price Index 15 (IPCA-15) rose 0.09% in July after registering an even lower growth of 0.06% in June. The main factor for this very small growth was the fall in fuel prices.

With a stable IPCA, several Brazilian economists are betting on a 0.25% reduction in the basic interest rates of the economy (Selic). IPCA closes June up just 0.01%, reflecting weak demand and the contraction in food and fuel prices. Without cost-of-living pressure, analysts are predicting a drop of at least 0.25 percentage points in the Selic rate at the next Copom meeting in the last two days of July. Currently, the Selic rate is at 6.5% per year.

With Selic at this level in Brazil, fixed-income investments such as savings, floating-rate CDBs, DI funds, and Selic Treasury bonds pay less, as their yields are pegged to the Selic rate.