April 25, 2024

The Catholic Transcript

Complete News World

Jose Cassio

Multinational corporations use Bolsonaro to justify business failures

Bolsonaro spoke about his proposal

Now there is nothing left.

Brazilian units of cosmetics maker Coty and retailer Cencosud have listed Bolsonaro’s risks in recent stock offering prospects, while Coca-Cola Co distributor Solar Bebidas has warned of turmoil that could precede the 2022 presidential election.

Bolsonaro’s latest standoff with the Supreme Court (STF) is raising concerns about the completion of reforms in the country and threatening the viability of about 25 IPOs in progress. In addition to the 44 IPOs completed this year so far, it will break the Brazilian IPO record for 2007. condition.

Last week, Bolsonaro eased his dispute with the International Monetary Fund, but investors, analysts and investment bank executives still question how long the truce will last. The Ibovespa +0.60% is down about 1.5% this year, and is one of the five global indices in negative territory in 2021.

Bolsonaro failed

“The prospects for IPOs are more challenging. A potential institutional crisis could reduce the chances of approving reforms necessary to boost economic growth,” said Gustavo Miranda, head of investment banking at Santander Brasil.

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