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Brazil & Southern Cone - May 2020

Who is in charge?

As coronavirus (Covid-19) infections and deaths continue on a rising curve, there is confusion over Brazil’s economic policy direction. Notionally, economy ‘super minister’ Paulo Guedes is still running the show, but in practice he faces significant opposition both from within the government and the federal congress. Guedes himself has done little to reassure the markets, saying on 7 May that the country could experience food shortages and an economic collapse within 30 days.

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