Petrobras CEO saga sends bonds tumbling as fiscal fears mount

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Petrobras CEO saga sends bonds tumbling as fiscal fears mount

Oliver West
February 23, 2021 05:30 AM
Petrobras, Brazil, truck, oil, gas, fuel, energy, diesel, prices, LatAm, 575
Sao Paulo, SP, Brazil - mar 11, 2004 - truck enters petrobras gas station to refuel during trip | Fabio Salles/Casa da Photo - stock.adobe.com

Petrobras bonds slumped on Monday after Brazil's president Jair Bolsonaro nominated retired general and former defence minister Joaquim Silva de Luna to be the state-owned oil and gas giant’s new CEO. One analyst decried “corporate statism” as others saw the decision as a warning about the direction of Brazil’s fiscal policy.

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Oliver West
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