The Brazil Business and Politics Round-up May 21st 2018

Politics

  • One in three presidential candidates drops out of the race six months before the poll Eversince 1985, when democracy in Brazil was restored, an average of one in three of the main presidential candidates drop out of the race six months before the poll day
  • Brazilian prosecution office indicts JBS’ executives and ignores agreement The Federal Prosecution Office indicted JBS’ executives and informers Joesley Batista and Francisco de Assis on charges of active corruption, money laundering, violation of functional confidentiality and obstruction of investigations
  • São Paulo police kill more men, blacks and youth Data from an unpublished research shows there are more men, blacks and young people killed as a result of police interventions than the number of murder victims in the State of São Paulo

Business

  • Brazil’s Central Bank maintains interest rate at 6.5% The decision was unexpected, as surprised financial market analysts were estimating a new cut of 0.25%; On another note, the cycle of interest rate cuts, which started in October 2016 when the rate was as high as 14.25%, has ended
  • Operation against illegal mining launched by Federal Agencies The Brazilian Federal Prosecution Office (MPF) and other federal government have started an operation against mining and companies in the Tapajós river area, in Pará, aiming to attack an illegal chain of gold mining in the Amazon

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