Grace Fan

Director, Brazil/Latin America Research

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Recent Brazil research

* Brazil: Temer shifts back to survival mode, Grace Fan, Elizabeth Johnson, 20 Sep 2017
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* Brazil: The return of consumer-led growth?, Grace Fan, Elizabeth Johnson, 13 Sep 2017
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Petrobras and the government on the edge

Overview

The re-election of President Dilma Rousseff has set the stage for what looks likely to be another challenging four years for Brazilian state-run firms. Political risk tends to rise for Petrobras (PETR3:BZ, PBR:US) in election years and fall in non-election years, in tandem with the state imperative to use the firm to control inflation and to increase investments ahead of voting. But this time around, the company and the government now face the ticking time bomb of the widening...

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