Riots In Brasilia Could Portend Elevated Economic Risks
DBRS Morningstar released a commentary titled “Riots In Brasilia Could Portend Elevated Economic Risks.”On January 8, radical supporters of former President Jair Bolsonaro stormed and vandalized the Brazilian Congress, Presidential Palace, and Supreme Court, demanding that the military intervene to overturn last October's presidential election in which Luiz Inácio Lula da Silva (Lula) narrowly defeated Bolsonaro.
“The country's deep political divisions will add another element of risk to Brazil's already vulnerable outlook,” notes Michael Heydt, Senior Vice President, Global Sovereign Ratings.
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