Political Risk – Brazil [REAL-TIME CASE STUDY]
“Sergio Moro, the former judge who rose to fame as the
face of Brazil’s largest anti-corruption probe, resigned from his post as
justice minister amid what he saw as political interference, dealing a blow to
the government of President Jair Bolsonaro.
“It’s my duty to protect the federal police, and I
tried to seek alternatives to avoid a political crisis amid a pandemic,” he
said at a press conference in Brasilia to explain his decision. “I’ll start
packing my things and tender my letter of resignation. I can’t go on without
ensuring the federal police its autonomy.”
Brazilian markets sank amid concern the departure
would exacerbate political risk in Latin America’s largest economy. The
currency sank more than 3% to as low as 5.7106 per U.S. dollar, by far the
worst performer among emerging markets on Friday. Stocks fell 7%.”
Brazil's Challenge: Flattening Not One Curve, But
Three by LUCIANO SOBRAL