Monthly Statement – Jun/20

Dear Friends,

It is often said that economics and politics go hand in hand. Politics in Brazil has largely revolved around the President’s family environment and its problems, with direct and indirect effects on the way the Commander-in-Chief governs. In the last few weeks, this point of the triple crisis that we are experiencing has gained prominence, bringing risks to the President’s hold of office, causing him not only to change his mind as to the so-called “old politics”, but also to cool his “belligerent” stance, in the daily management of Government issues.

This new attitude is good in a certain way, but it is certainly ephemeral, given the profile of the President, and reveals the gravity of the situation. The economy, in the face of the pandemic and its consequences, suffers harshly, and stumbles with no horizon favorable to the resumption of reforms. In fact, not even in an adequate phase-out of the epidemiological crisis can we move forward. Thus, in a process of reopening on the basis of “trial and error”, we are in serious risk of being hit by a second wave of Covid-19 without even leaving the first.

To read full report, click here.