Dear Friends,

With little more than a year and a half of Bolsonaro’s government, we are witnessing an important shift in the Commander-in-Chief’s administration stances. For reasons generally known as “personal”, the economic team, for example, lost key people this month, such as Caio Megale (special advisor to economic team), Mansueto Almeida (Treasury Secretary) and Rubem Novaes (Banco do Brasil Chairman). Paulo Guedes, astute and enlightened, has to his avail professionals to put in place, but the political tone seems to have changed, which raises doubts about his reach in the only area that has the ability to redeem us from the imbroglio of the adopted belligerent stance by the President so far.

One of the main promises of the campaign, delivered thus far, was of absolute intolerance towards corruption, with the right, even, to see General Heleno humming a popular song “…if one screams arrest that thief, there will be none left, brother!”. Bolsonaro’s approach to the so-called “Centrão” scares his voters, as well as his metamorphosis in terms of attacks and demonstrations. A significant change not only for the President, but also for those around him with the same attitude. This shift in form and content challenges Brazilians to understand what is going on.


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