Grace Fan

Director, Brazil/Latin America Research

Elizabeth Johnson

Managing Director, Brazil Research

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Recent Brazil research

* Brazil: Energy overhaul plans are unveiled, Elizabeth Johnson, Grace Fan, 16 Nov 2017
* Brazil: Energy overhaul plans are unveiled, Elizabeth Johnson, Grace Fan, 16 Nov 2017
* Brazil: Temer unmasked?, Grace Fan, Elizabeth Johnson, 9 Nov 2017
* Brazil: Final push for fiscal savings, Grace Fan, Elizabeth Johnson, 1 Nov 2017
* Brazil: Final push for fiscal savings, Grace Fan, Elizabeth Johnson, 1 Nov 2017

See all our Brazil research >>

Brazil: Closer to the fiscal precipice

Overview

The weakened Temer government – which had once promised a “bridge to the future” – bowed to the politically inevitable this week when it sharply revised up its 2017–20 primary deficit targets. Although the market reacted well initially and ratings agency S&P reaffirmed Brazil’s sovereign rating in a nod to Finance Minister Meirelles’ efforts, we still see a serious risk of a downgrade before yearend....

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