Sentiment turns negative in Brazil as politics take centre stage
The campaign for the 2022 Presidential election in Brazil has unofficially started. In recent weeks, sentiment has turned against Brazilian President Jair Bolsonaro following a series of events and decisions made by the divisive South American leader. Markets have reacted negatively to the increased uncertainty which could threaten the future of his reform agenda. Lack of control of the Covid-19 pandemic could also delay the economic recovery in 2021. In this Macro Flash Note, Joaquin Thul discusses the outlook for Brazil.
