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A view of logo of New Development Bank (NDB) at its headquarters in Shanghai, China July 10, 2023. Finance Minister Enoch Godongwana said boosting local currency usage among the NDB's members will also be on the agenda, with the aim of de-risking the impact of foreign exchange fluctuations rather than de-dollarisation. "Most countries that are members of the NDB have been encouraging (it) to provide loans in local currencies," Godongwana said. Reuters Graphics Reuters GraphicsSo far, China is by far the NDB's most successful local currency market. GROWING MEMBERSHIPNevertheless, the NDB, established with $10 billion in paid-in share capital from each BRICS country, wants to expand.

Persons: Aly, Enoch Godongwana, Godongwana, Leslie Maasdorp, Maasdorp, Alexander Ekbom, Chris Humphrey, Humphrey, Rachel Savage, Brenda Goh, Tannur Anders, Vincent Flasseur, Karin Strohecker, Joe Bavier, Alexander Smith Organizations: New Development Bank, REUTERS, Reuters, Finance, Federal Reserve, Reuters Graphics Reuters, U.S ., United Arab, Asian Infrastructure Investment Bank, Reuters Graphics, Overseas Development Institute, Thomson Locations: Shanghai, China, Africa, JOHANNESBURG, SHANGHAI, Russia, South Africa, Brazil, India, Johannesburg, Ukraine, United States, Mumbai, Brasilia, Bangladesh, United Arab Emirates, Egypt, Uruguay, Algeria, Honduras, Zimbabwe, Saudi Arabia, Asia, London

☆ Does Information Affect Our Beliefs?
▼ + stars: | 2023-08-09 | by ( Amanda Taub | ) www.nytimes.com time to read: +2 min

‘Filter bubbles’ and democracySometimes the dangerous effects of social media are clear. As a result, they mostly share and see stories from people on their own side of the political spectrum. That “filter bubble” of information supposedly exposes users to increasingly skewed versions of reality, undermining consensus and reducing their understanding of people on the opposing side. “The ‘Filter Bubble’ Explains Why Trump Won and You Didn’t See It Coming,” announced a New York Magazine article a few days after the election. Changing information doesn’t change mindsBut without rigorous testing, it’s been hard to figure out whether the filter bubble effect was real.

Persons: newsfeed, Jair Bolsonaro, Donald Trump, Trump, ”, it’s Organizations: Trump, New York Magazine, Wired Magazine, Meta, Princeton, Dartmouth, University of Pennsylvania Locations: Sri Lanka, Brazil, WhatsApp, Brasília, United States, Stanford

Minister of Indigenous Peoples Sonia Guajajara said more Indigenous people felt comfortable identifying themselves as such. Tebet told reporters the new population numbers will allow for improved budget funding for policies to help Indigenous communities, in education but mainly in health services and basic sanitation to make up for government neglect. Half of Brazil's Indigenous communities live in the Amazon region, some 867,900, with the highest urban concentration in the city of Manaus, the capital of Amazonas state. But the main reason for the exponential growth in numbers, besides higher fertility rates among Indigenous communities, is the rise in visibility of Brazil's Indigenous movement, he said. "When you have strong Indigenous leaders bringing positive connotations to being Indigenous, this encourages people to begin identifying themselves," Barros said by telephone.

Persons: Vanderlecia Ortega dos Santos, Vanda, Ueslei Marcelino BRASILIA, Sonia Guajajara, Guajajara, Simone Tebet, Tebet, Luiz Inacio Lula da Silva's, Jair Bolsonaro, Lula, Leonardo Barros, Barros, Anthony Boadle, Aurora Ellis, Jamie Freed Organizations: Brazilian Institute of Geography, Teatro, REUTERS, Ueslei, IBGE, Government, Indigenous, Federal University of Viçosa, Thomson Locations: Belem , Para, Brazil, Belem, Portugal, Venezuela, Manaus, Amazonas, Minas Gerais

☆ Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Aug 7 (Reuters) - Brazil's central bank forthcoming digital currency, set to launch next year, will be named DREX, it announced on Monday, aiming to use the currency to boost financial services. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials from the central bank previously predicted that the adoption of the Brazilian digital currency would commence by the end of 2024, following the completion of its testing phase. During a live discussion organized by the central bank, he emphasized that the development of DREX is primarily aimed at improving access to financial services in the country. "By enabling simple and reliable access to registered values through DLT technology, we reduce costs and democratize access to financial services," Araujo stated.

Persons: Fabio Araujo, Araujo, Marcela Ayres, Aurora Ellis Organizations: Thomson Locations: BRASILIA, Brazil

☆ Brazil courts private sector help to reforest the Amazon, minister says
▼ + stars: | 2023-08-07 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File PhotoBRASILIA, Aug 7 (Reuters) - Brazil's government wants the private sector to help reforest large swathes of the Amazon, the country's Environment Minister Marina Silva said in an interview, using concessions to replant some 12 million hectares (120,000 square km) of forest by 2030. The plan's outlines were sketched out in a briefing last week by President Luiz Inacio Lula da Silva, who has vowed to end Amazon deforestation by 2030. Concessions could also be granted to generate other products, like oilseeds, fibers and resins, along with potential carbon credit schemes. The vast Amazon rainforest is a key buffer against climate change.

Persons: Bruno Kelly, Marina Silva, Luiz Inacio Lula da Silva, Silva, Andre Lima, Jair Bolsonaro, Lisandra, Gabriel Stargardter, Brad Haynes, Richard Chang Organizations: REUTERS, country's, Reuters, Amazon Cooperation Treaty Organization, Thomson Locations: Manaus, Amazonas State, Brazil, BRASILIA, Brasilia, Colombia, Peru, Belem

☆ Amazon nations to set up rainforest science panel, Brazilian minister says
▼ + stars: | 2023-08-04 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

[1/6] A woman passes in front of a graffiti before a summit of Amazon rainforest nations at the Igarape Park, in Belem, Para state, Brazil August 4, 2023. REUTERS/Ueslei MarcelinoBRASILIA, Aug 4 (Reuters) - Amazon countries meeting next week for a summit on cooperation to save the rainforest aim to set up a scientific body like the U.N.'s Intergovernmental Panel on Climate Change (IPCC) to share research, Brazil's environment minister told Reuters. The panel would help produce sustainable development policies for the countries of the region while remaining independent of governments, and monitor the impact of climate change on the Amazon rainforest and ecosystem, she said. Lula has overhauled Brazil's environment policies since taking office in January, succeeding far-right president Jair Bolsonaro, who relaxed protection the environment and encouraged development of the Amazon, where deforestation soared. Preliminary government figures showed on Thursday that deforestation in Brazil's Amazon fell in July to its lowest level since 2017, boosting Lula's credibility on environmental policy ahead of the summit.

Persons: Ueslei Marcelino BRASILIA, Marina Silva, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Lisandra Paraguassu, Anthony Boadle, Kevin Liffey Organizations: REUTERS, Ueslei, Reuters, Amazon Cooperation Treaty Organization, Thomson Locations: Belem , Para, Brazil, Belem

☆ Brazil's Lula: Amazon countries summit to build common policy for first time
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Johanna Geron/File PhotoBRASILIA, Aug 2 (Reuters) - Brazil President Luiz Inacio Lula da Silva on Wednesday said that next week's summit of Amazon region nations will seek to draw up a common policy for the first time to protect the rainforest. For the first time we are going to have a common policy for the Amazon, for preservation, security, borders," Lula said. The eight countries of the Amazon Cooperation Treaty Organization (ACTO) will meet Aug. 7-8 in the city of Belem at the mouth of the Amazon river. ACTO was created in 1978 to promote the preservation of the Amazon basin and regulate Amazonian development through cooperation. Reporting by Lisandra Paraguassu; Editing by Mark Porter and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Johanna Geron, Lula, ACTO, Lisandra Paraguassu, Mark Porter, Aurora Ellis Organizations: EU, LAC, European Union, of, Caribbean, REUTERS, Amazon Cooperation Treaty Organization, Thomson Locations: Caribbean States, Brussels, Belgium, BRASILIA, Brazil, Amazon, Belem, Bolivia, Colombia, Ecuador, Guyana, Peru, Suriname, Venezuela

☆ Brazil now main holdout against BRICS expansion, sources say
▼ + stars: | 2023-08-02 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +5 min

An attendant is stands next to South African, Indian, Russian, Brazilian and Chinese flags during a plenary session of BRICS Summit, in Xiamen, China September 4, 2017. "An expansion could transform the bloc into something else," said a Brazilian official, who asked not to be named. Russia said expansion would be high on the agenda of the upcoming BRICS summit. A government official told Reuters: "India has reservations about the expansion ... South Africa, the first beneficiary of a BRICS expansion in 2010, now supports inclusion of new members, though South African President Cyril Ramaphosa has said the expansion formula requires "closer scrutiny and understanding."

Persons: Tyrone Siu, Vladimir Putin, Dmitry Peskov, Cyril Ramaphosa, Oliver Stuenkel, Stuenkel, Lisandra, Laurie Chen, Krishn Kaushik, Carien du Plessis, Tim Cocks, Wendel Roelf, Anthony Boadle, Brad Haynes, David Gregorio Our Organizations: BRICS, REUTERS, Tyrone, Reuters, Brazilian, Diplomats, Getulio Vargas Foundation, Thomson Locations: Xiamen, China, Tyrone Siu BRASILIA, Brazil, Russia, India, South Africa, United States, Ukraine, Brasilia, Algeria, Cape Town, Johannesburg, Beijing, BRICS, Africa, São Paulo, Indonesia, Iran, Venezuela, Saudi Arabia, New Delhi

☆ Brazil's Lula says 'neither Putin nor Zelenskiy ready for peace'
▼ + stars: | 2023-08-02 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

REUTERS/Ueslei MarcelinoBRASILIA, Aug 2 (Reuters) - Brazil's President Luiz Inacio Lula da Silva said his country is working for peace in Ukraine but neither its leader nor Russia's are prepared to talk peace. "Neither Putin nor Zelenskiy are ready," Lula told foreign correspondents in a news conference, adding that peace proposals he is seeking with other countries will be ready when Russia and Ukraine are willing to negotiate. Lula has tried to form a group of neutral countries to get peace talks going. Lula said the G7 group of advanced economies should no longer exist since the creation of the larger G20 group of leading and emerging economies. Lula said the BRICS group of emerging economies should allow new members "as long as they meet the requirements."

Persons: Luiz Inacio Lula da Silva, Ueslei Marcelino BRASILIA, Putin, Lula, Anthony Boadle, Mark Porter, David Gregorio Our Organizations: REUTERS, Ueslei, Security, . Security, United Arab Emirates, New Development Bank, International Monetary Fund, Thomson Locations: Brasilia, Brazil, Ukraine, Russia, United States, Iraq, France, England, Libya, Saudi Arabia, Argentina

☆ NASA chief offers Brazil satellite imaging to help stop Amazon deforestation
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

NASA Administrator Bill Nelson attends a news conference, after meeting with Brazil's President Luiz Inacio Lula da Silva (not pictured), at the Planalto Palace in Brasilia, Brazil July 24, 2023. REUTERS/Adriano MachadoBRASILIA, July 25 (Reuters) - NASA Administrator Bill Nelson visited Brazilian space research center INPE on Wednesday and proposed extending satellite partnerships with the United States to help monitor and prevent destruction of the Amazon rainforest. Nelson said NASA will have a satellite in January that can even render images of what is happening below the forest canopy. "I thanked the president for his continuous effort to save the Amazon rainforest," he told reporters after the meeting. Earlier on Tuesday, Nelson visited Brazilian plane maker Embraer (EMBR3.SA) in Sao Jose dos Campos and toured the production line for its narrow-body commercial E-Jets.

Persons: Bill Nelson, Luiz Inacio Lula da Silva, Adriano Machado BRASILIA, Nelson, Sao Jose dos Campos, Luciana Santos, Anthony Boadle, Brad Haynes, Bill Berkrot Organizations: REUTERS, NASA, INPE, Embraer, EMBR3, Jets, Thomson Locations: Brasilia, Brazil, United States, India, Sao Jose, INPE, China, U.S, Brazilian, American, Argentina, Colombia

The decree fulfills a campaign promise by Lula, who criticized looser gun controls under Bolsonaro, arguing they were responsible for a wave of political violence during last year's election. The country has nearly 800,000 registered gun owners, up from 117,467 in 2018 when Bolsonaro was elected, according to the 2023 Brazilian Yearbook of Public Security. Lula's decree rolled back firearms access for that group. Lula's decree also closes a loophole that allowed many gun owners to go out in public with loaded weapons if they claimed to be going to a gun club. Gun owners who bought their weapons during the previous administration will not be forced to give them up, but the decree envisages a buyback program starting this year.

Persons: Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Bolsonaro, Lula's, Lisandra, Gabriel Stargardter, Brad Haynes, David Holmes, Richard Chang Organizations: of Public Security, Brazilian Armed Forces, CAC, Gun, Thomson Locations: BRASILIA, Brazil, Brasilia, Rio de Janeiro

☆ Sao Paulo governor turns heads on Brazil's right after Bolsonaro election ban
▼ + stars: | 2023-07-20 | by ( Ricardo Brito | ) www.reuters.com time to read: +5 min

Although the governor and his closest advisers insist he is focused on serving Sao Paulo state, many of Brazil's seasoned conservative power brokers are already calling the pro-business moderate a natural candidate for the presidency in three years. It also helped shore up three-quarters support among Sao Paulo lawmakers for the reform as it cleared one chamber of Congress. He is pushing to privatize the port of Santos on the Sao Paulo coast, a bid blocked for now by the federal government. And he has vowed to revive efforts to privatize state water utility Sabesp (SBSP3.SA), while Lula has decried recent privatizations under Bolsonaro. "He has to finish his mission in Sao Paulo with a second term," said one close aide, asking not to be named as he was not authorized to speak about the governor's plans.

Persons: Tarcisio de Freitas, Jair Bolsonaro, Freitas, Bolsonaro, Luiz Inacio Lula da Silva's, Marcos Pereira, of God, Arthur Lira, Ciro Nogueira, Bolsonaro's, Antonio Queiroz, Dilma Rousseff, Lula, Queiroz, Ricardo Brito, Anthony Boadle, Brad Haynes, Paul Simao Organizations: Paulo, Republicans, Universal Church of, Liberal Party, ARMY, Workers Party, Sao, Thomson Locations: BRASILIA, Sao Paulo, of, Brazilian, Santos

BRASILIA, July 18 (Reuters) - Brazil's government is considering changes to the taxation of closed-end funds and shareholder payouts in order to shore up revenue in next year's budget, said three senior economic officials with direct knowledge of the matter. The government signaled on Tuesday it would propose a comprehensive income tax reform only after the Senate has passed a consumption tax reform that cleared the lower house of Congress this month. A more complex and structural reform, involving income tax exemptions, taxation of profits and dividends and reductions to payroll taxes, would be presented after the consumption tax reform clears the Senate, the sources said. "When the budget bill is sent, revenue measures to meet the targets must also be sent, and some of these measures will already appear in the proposal," said one of the sources. Closed-end funds offer favorable investment opportunities to wealthier Brazilians by taxing earnings only when they are distributed to investors.

Persons: Marcela Ayres, Bernardo Caram, Brad Haynes, Matthew Lewis, Richard Chang Organizations: Finance Ministry, Finance, Senate, Thomson Locations: BRASILIA, Brasilia

☆ Brazil's central bank prepares public consultation on cryptocurrency regulation
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, July 18 (Reuters) - Brazil's central bank announced on Tuesday its plans to launch a public consultation regarding the regulation of cryptocurrencies in the second half of this year. Specific measures will be taken to limit the risks associated with decentralized governance systems and to prevent investors from being exposed to these assets without appropriate levels of disclosure, said the central bank. The government of President Luiz Inacio Lula da Silva delegated the authority to regulate cryptocurrency services to the independent central bank from June 20. Despite this status, the central bank stressed the need for coordinated action among various regulators, such as the revenue service and the country's Securities and Exchange Commission (CVM). Reporting by Marcela Ayres; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Marcela Ayres, Steven Grattan Organizations: country's Securities, Exchange Commission, Thomson Locations: BRASILIA

"Everyone is expecting a rate cut," Finance Minister Fernando Haddad noted in an interview with RedeTV journalist Kennedy Alencar. Planning Minister Simone Tebet was even more emphatic, saying at an event in Rio de Janeiro that the central bank must start its easing cycle with a 50-basis-point cut. She said high interest rate levels were hurting the retail sector. However, they still diverge on the size of the cut, with 55% of those polled betting on a 25 basis point move while 32% expect a 50 basis point cut. On Thursday, Lula himself renewed calls on the central bank to cut interest rates.

Persons: Luiz Inacio Lula da Silva's, Fernando Haddad, Kennedy Alencar, Haddad, Simone Tebet, Lula, Gabriel Galipolo, Ailton Aquino, Lula's, Bernardo Caram, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan, Josie Kao, Frances Kerry Organizations: RIO DE, Finance, Reuters Graphics Reuters, Thomson Locations: BRASILIA, RIO, RIO DE JANEIRO, Rio de Janeiro, Brazil, Brasilia

☆ Brazil govt eyes sending income tax reform proposal to Congress
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, July 10 (Reuters) - President Luiz Inacio Lula da Silva's government will not wait for Brazil's Congress to finish voting on a tax reform related to consumption before submitting its proposal for an income tax reform, Finance Minister Fernando Haddad said on Monday. "I will need Congress to consider this second phase (of tax reform) along with the budget bill," said Haddad, referring to the budget proposal that, by law, the government must submit by the end of August. The measure still requires final passage in the Senate, with no date yet set for a vote. According to Haddad, a carbon credit bill is set to be presented to Congress in August. Additionally, the government has scheduled an official presentation to attract companies interested in making products labeled as "clean energy," Haddad said.

Persons: Luiz Inacio Lula da Silva's, Fernando Haddad, Haddad, Brazil's, Lula, Marcela Ayres, Mark Porter, Will Dunham Organizations: Finance, Workers ' Party, Thomson Locations: BRASILIA

☆ Apartment building collapse kills 14 in Brazil
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, July 8 (Reuters) - A residential building collapse in northeastern Brazil killed 14 people, civil defense officials said on Saturday, as the last missing people were found lifeless. The collapse occurred on Friday in the Janga neighborhood on the outskirts of Recife, the capital of the northeastern state of Pernambuco. The apartment building collapsed during heavy rains that struck the region while many residents were still asleep. According to a statement from civil defense, three people managed to survive the collapse, whose cause remains unclear. Recife, a coastal city with around 1.5 million residents, has been grappling with heavy rainfall in recent days.

Persons: Raquel Lyra, Marcela Ayres, Alistair Bell Organizations: Twitter, Thomson Locations: BRASILIA, Brazil, Janga, Recife, Pernambuco

BRASILIA, July 7 (Reuters) - Brazil's lower house of Congress approved on Friday the main text of a tax reform that will restructure the country's complex consumption taxes, a move President Luiz Inacio Lula da Silva touted as a "great victory". The bill will now be sent to the Senate, where it will also be voted on in two rounds. "Brazil will have its first tax reform of the democratic period ... We are working towards a better future for everyone." Markets reacted positively to the lower house approval, with Brazil's real strengthening more than 1% against the dollar, while benchmark stock index Bovespa (.BVSP) jumped 1.65%. 'A NECESSITY'The lower house approved the reform by 382-118 in the first round of voting held late on Thursday.

Persons: Luiz Inacio Lula da Silva, Lula, Fernando Haddad, Haddad, Rodrigo Pacheco, Arthur Lira, Jair Bolsonaro, Maria Carolina Marcello, Carolina Pulice, Gabriel Araujo, Michael Perry, Devika Syamnath, Alistair Bell Organizations: Lawmakers, Senate, Markets, JPMorgan, Finance, Workers ' Party, Thomson Locations: BRASILIA, Brazil

☆ Brazil's Marta says sixth Women's World Cup will be her last
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - Brazil forward Marta said it feels "surreal" to be preparing for a sixth Women's World Cup and that the tournament in Australia and New Zealand will be her last. The 37-year-old made her World Cup debut in 2003 and is Brazil's all-time leading scorer with 117 goals. "Yes, it will be my last World Cup," she told local media in Brasilia on Monday. To have the opportunity to go to another World Cup, a sixth one, for me is something surreal." Brazil kick off their World Cup campaign against Panama on July 24 before taking on France and Jamaica.

Persons: Marta, Brazil's, Pia Sundhage, Hritika Sharma, Peter Rutherford Organizations: Copa America, FIFA, England, Panama, Thomson Locations: Brazil, Australia, New Zealand, Germany, Brasilia, Chile, France, Jamaica, Hyderabad

☆ Brazil’s Jair Bolsonaro is barred from running for office until 2030
▼ + stars: | 2023-07-01 | by ( ) www.cnbc.com time to read: +6 min

Former Brazilian President Jair Bolsonaro leaves his home following a search operation, in Brasilia, Brazil May 3, 2023. Far-right former Brazilian President Jair Bolsonaro was barred Friday from running for office again until 2030 after a panel of judges concluded that he abused his power and cast unfounded doubts on the country's electronic voting system. Five judges on the nation's highest electoral court agreed that Bolsonaro used government communication channels to promote his campaign and sowed distrust about the vote. Speaking to reporters in Minas Gerais, Bolsonaro lamented that the trial was unfair and politically motivated. Brazilian law forbids candidates with criminal sentences from running for office.

Persons: Jair Bolsonaro, Bolsonaro, Carlos Melo, Judge Carmen Lucia —, —, Alexandre de Moraes, Melo, Fernando Collor de Mello, Luiz Inácio Lula da Silva, Sen, Sergio Moro, Maria Maris, Maris, Lula, Swift jailing, Gleisi Hoffmann, mongers, Donald Trump, Marie Santini, Katia Caminha, Caminha, Bolsonaro's, Thomas Traumann, didn't, Traumann Organizations: Insper University, Liberal Party, Federal, Lula's Workers ' Party, Federal University of Rio, Bolsonaro, Associated Press, Sao Paulo Locations: Brasilia, Brazil, Sao Paulo, Minas Gerais, Rio de Janeiro, Federal University of Rio de Janeiro, Rio de, Copacabana, Sao, decamp, Florida

☆ Brazil offers tax advantages via e-commerce compliance program
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationBRASILIA, June 30 (Reuters) - Brazil's Finance Ministry announced on Friday an exemption from federal taxes on e-commerce purchases up to $50 for companies participating in a new compliance program by the tax revenue service. The program, starting Aug. 1, offers faster and cheaper customs treatment for e-commerce companies that voluntarily meet criteria set by the government, the ministry's statement said. Under the program, e-commerce companies must also inform consumers about the product's origin and the merchandise's total value, including federal and state taxes - procedures that are currently optional. The program will essentially relieve the revenue service of such tasks when e-commerce firms participate. The government had previously attempted to end exemptions on all shipments as some companies imported products as individuals to avoid higher rates.

Persons: Dado Ruvic, Alibaba Group's, Marcela Ayres, Emma Rumney Organizations: REUTERS, Brazil's Finance, HK, Thomson Locations: BRASILIA, AliExpress

☆ Bolsonaro eyes 2026 candidacy for his wife as his political future evaporates
▼ + stars: | 2023-06-30 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +3 min

RIO DE JANEIRO, June 30 (Reuters) - Former Brazil President Jair Bolsonaro's hopes of reclaiming the presidency in 2026 may be all but dead. A majority of Brazil's federal electoral court (TSE) justices on Friday froze Bolsonaro's political career, barring the far-right nationalist from public office until 2030 for spreading baseless claims about the country's voting system in last year's election. The majority ruling represents a devastating setback for the 68-year-old career politician who was until recently Brazil's most powerful man. Speaking on Thursday shortly after landing in Rio de Janeiro, where he was greeted with shouts of "criminal" and "coup-monger," Bolsonaro backed his wife Michelle for 2026. Michelle Bolsonaro is a political newcomer.

Persons: Jair Bolsonaro's, Bolsonaro, Michelle, Luiz Inacio Lula da Silva, Tarcisio Freitas, Romeu Zema, Michelle Bolsonaro, Lula, William Douglas, Flavio Bolsonaro, Eduardo Bolsonaro, Steve Bannon, Gabriel Stargardter, Rosalba O'Brien Organizations: RIO DE, Sao Paulo, Liberal Party, Evangelical Christian, Thomson Locations: RIO DE JANEIRO, Brazil, Rio de Janeiro, Sao, Minas Gerais, Brasilia, Rio

☆ Bolsonaro's career wrecked as majority of Brazil court vote to bar him for 8 years
▼ + stars: | 2023-06-30 | by ( Ricardo Brito | ) www.reuters.com time to read: +2 min

REUTERS/Adriano MachadoBRASILIA, June 30 (Reuters) - Former Brazilian President Jair Bolsonaro's political career evaporated on Friday as a majority of federal electoral court (TSE) justices voted to bar him from public office until 2030 for his conduct during last year's fraught election. Bolsonaro denies any wrongdoing and has already said he plans to appeal to the Supreme Court. The TSE trial is part of a broader reckoning in Brazil with the fallout from the country's most painful election in a generation. While the former president faces electoral court scrutiny, many of his one-time allies are being questioned by lawmakers in a congressional probe into the Jan. 8 riots. Reporting by Ricardo Brito; Writing by Gabriel Araujo; Editing by Jonathan Oatis and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Jair Bolsonaro, Adriano Machado BRASILIA, Jair, Bolsonaro, Luiz Inacio Lula da Silva, Benedito Goncalves, Donald Trump, Ricardo Brito, Gabriel Araujo, Jonathan Oatis, Rosalba O'Brien Organizations: Brasilia International, Electoral Justice, REUTERS, Supreme, TSE, Thomson Locations: Brasilia, Brazil

☆ Brazil cenbank chief signals he supports changing inflation target time frame
▼ + stars: | 2023-06-29 | by ( Marcela Ayres | ) www.reuters.com time to read: +2 min

BRASILIA, June 29 (Reuters) - Brazil's central bank chief Roberto Campos Neto indicated on Thursday he supports adopting a continuous time frame for the monetary authority to pursue inflation targets, ditching the current system of tracking a calendar year. His remarks came as Brazil's National Monetary Council (CMN), the country's top economic policy body, is scheduled to meet later on Thursday to set its 2026 inflation target. Haddad has publicly supported changing the time frame, arguing a longer-term approach provides more room to accommodate price shocks without requiring monetary tightening. Campos Neto also said at the press conference that policymakers do not think there was inconsistency between the statement and the minutes of their latest policy meeting. The central bank held interest rates at a cycle-high of 13.75% for the seventh consecutive policy meeting last week.

Persons: Roberto Campos Neto, Campos Neto, Fernando Haddad, Simone Tebet, Haddad, Marcela Ayres, Andrea Ricci, Alexandra Hudson Organizations: National Monetary Council, Finance, Alexandra Hudson Our, Thomson Locations: BRASILIA, Brasilia

☆ Brazil central bank improves 2023 GDP growth forecast to 2.0%
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, June 29 (Reuters) - Brazil's central bank joined on Thursday a wave of recent upward revisions for the country's economic growth this year, guided by a solid first quarter boosted by the agriculture sector. In its quarterly inflation report, the central bank forecasts a 2.0% expansion in gross domestic product (GDP) for 2023, up from the 1.2% estimate in March. The figure came slightly below the 2.18% growth expected by private economists in a weekly survey conducted by the bank and remains weaker than last year's 2.9% GDP expansion. The central bank emphasized that the outlook ahead points to an economic slowdown as the cumulative effects of domestic monetary policy and the influence of global growth deceleration take hold. Regarding bank lending, the central bank now anticipates a 7.7% increase in 2023, up from the 7.6% reported before.

Persons: Marcela Ayres, Steven Grattan Organizations: Thomson Locations: BRASILIA

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