Brazil Markets Slip As Scandal Over Bolsonaro Aide Casts Shadow

www.oann.com | 5/24/2016 | Staff
BRASILIA (Reuters) – Brazilian markets fell on Monday as investors feared a brewing political scandal could put strains on President Jair Bolsonaro’s coalition in Congress, hurting his ability to pass a pension reform seen as key to bolstering the country’s economic recovery.

Bolsonaro is facing pressure from some supporters to fire one of his most senior aides, Secretary General Gustavo Bebianno, over accusations of misuse of campaign funds in the October election.

Bebianno - Government - Affairs - President - Bolsonaro

Bebianno, who helps coordinate internal government affairs and was acting president of Bolsonaro’s right-wing Social Liberal Party last year, denies wrongdoing. Debate over his fate has exposed sharp differences among allies in Congress.

Brazilian markets put in one of their best performances of the year last week as investors welcomed early details of the government’s proposed social security reform.

Gloss - Trading - Monday - Liquidity - US

But some of that gloss came off in early trading on Monday, likely exacerbated by thin liquidity due to the U.S....
(Excerpt) Read more at: www.oann.com
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