Brazilian President Promises Reforms in Response to Protests

Brazilian President Dilma Rousseff has proposed a referendum on political reforms in an effort to tackle protests that have swept the country.

She also promised to boost spending on public transport and focus on health and education as part of what she called “five pacts” with the people.

She later met regional mayors and governors, who agreed to her plans.

But some activists promised to carry on with the largest protests Brazil has seen for at least two decades.

Ms Rousseff said the reforms would be broad and focus on five areas:

Fiscal responsibility: guaranteeing economic stability and curbing inflation
Education: investing 100% of Brazil’s oil royalties in education
Health: hiring foreign doctors to provide medical services in remote and under-developed areas
Constituent Assembly: establishing an assembly to eventually amend Brazil’s constitution to ensure reforms make it “from paper to practice”
Public transport: investing more than 50 billion reias ($25bn, £16bn) for new investments in urban mobility projects and to improve public transport

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza