The Ibovespa led losses in the Americas after Finance Minister Joaquim Levy said that a credit rating downgrade by Moody’s Investors Service is more likely if Brazil doesn’t make economic adjustments.
Traders also pushed down the value of shares after newspaper Folha de S. Paulo reported Saturday that lower house President Eduardo Cunha would rebel against the administration by blocking a fiscal-austerity package designed to shrink the budget deficit. His announcement escalated a political crisis that already had driven President Dilma Rousseff’s popularity to a record low and revived talks of impeachment.
Brazil Energy Insight 
Leave a comment