The Brazil Business and Politics Round-up May 28th 2018

Politics

  • Truck drivers on strike after Diesel prices go up; Gas becomes rare in a matter of days Since the 21st approximately 300,000 truck drivers went on strike, causing road blockades in 25 states, affecting goods distribution in the country due to the adjustment of the price of diesel; the government has since then gave to many of the strikers demands
  • Michel Temer won’t seek re-election; Henrique Meirelles new MDB pre-candidate The two were together about 50 days ago on the party’s headquarters in Brasilia, announcing both as pre-candidates; Meirelles said he will seek the union of the Center
  • First to be arrested in the PSBD scheme, former governor surrenders The former governor of Minas Gerais, Eduardo Azeredo (PSDB) turned himself in to begin serving his sentence of 20 years and one month in prison for embezzlement of public funds and money

Business

  • Dollar closes below R$ 3.70 after major intervention by Central Bank Economists interviewed by the BC’s own Focus research now forecasts the Dollar the currency at R$ 3.43 by the end of the year and R$ 3.45 in 2019
  • Taxpayers to suffer the consequences of cheaper diesel for truckers As the government announced an agreement with truckers’ representatives to suspend their strike for 15 days, the promising to reduce the CIDE fuel tax on diesel will affect the pockets of taxpayers

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