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Latin American Economy & Business - December 2018

Brazil: Investors Welcome New Petrobras CEO

Roberto Castello Branco, the new CEO of Brazil’s oil giant Petrobras, is the third University of Chicago-trained economist to join the new government. A fierce critic of fuel subsidies and an eager proponent of privatisation, Castello Branco’s appointment highlights once more the future administration’s plans to liberalise the economy. However, the political sensibilities surrounding Petrobras are such that selling off its assets is likely to prove a significant challenge.

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