January 23, 2019


Brazil's Bolsonaro seeks central bank autonomy in 100 days: aide (Reuters, 1/23/19) 

Brazil's new right-wing President Jair Bolsonaro will work to establish the formal independence of the country's central bank in his first 100 days in office, his chief of staff Onyx Lorenzoni said on Wednesday.

Although the Brazilian central bank enjoys administrative autonomy, it is one of the few major central banks in the world that does not have formal institutional independence. [....]

He said the government also aims to obtain approval from the National Energy Council of the revision to the government's "transfer of rights" contract with state-run oil company Petroleo Brasileiro S.A., opening the way for the sale of Santos Basin presalt areas by the third quarter of this year.

Petrobras could receive a potential 30 billion reais ($8 billion) and raise more than 120 billion reais for the government next year.

Posted by at January 23, 2019 6:35 PM


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