Brazil President announces privatization plans

Brazil’s freshly appointed president has taken to Twitter to announce plans to privatize 12 airports and 4 sea ports.

Right-wing nationalist Jair Bolsonaro was sworn in as Brazil’s president on Tuesday, promising in his inauguration speech to “create a new virtuous cycle to open markets” and “carry out important structural reforms.”

Bolsonaro’s election campaign included promises to transition parts of Brazil’s economy away from state-run enterprises to more private sector operations, and a tweet on Thursday appeared to underline a commitment to that ideology.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.