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Weekly Report - 05 December 2024 (WR-24-48)
BRAZIL: Markets rattled by government’s fiscal plans
Brazil’s finance minister, Fernando Haddad, unveiled a series of measures on 27 November to reduce public spending. The long-awaited announcement sought to assuage market concerns over the government’s fiscal discipline. But what followed was anything but a vote of confidence, as investors began selling off their Brazilian assets, plunging the value of the Brazilian real against the US dollar to record lows in the days following Haddad’s announcement.
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