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Weekly Report - 25 February 2021 (WR-21-08)

BRAZIL: Bolsonaro axes Petrobras chief

President Jair Bolsonaro’s move to replace the head of Brazil’s Petrobras following disagreements between the government and the state-owned oil company’s administration over fuel pricing sowed panic in the financial markets. Bolsonaro only embraced economic liberalism in order to further his presidential campaign in 2018, and there is now concern that the far-right populist is turning back to the statist principles that he favoured during his previous three decades in politics.

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