Good morning! We’re covering today Brazil’s debt with the United Nations. Will the Central Bank change rules for paying in installments? And the latest Supreme Court mega important trial. (This newsletter is for platinum subscribers only. Become one now!)
Debt could cost Brazil voting seat at the United Nations
Brazil’s diplomatic body requested emergency funds from the Economy Ministry. The country is reportedly one month away from losing its voting seat at the United Nations General Assembly for being a bad debtor. Between 2016 and 2019, the country has amassed debts of USD 416 million—which, in today’s currency exchange, amounts to BRL 1.7 billion, more or less.
The country must pay at least the minimum installment of USD 126 million by January 2020.
Why it matters. Over the past decade, Brazil has had an underwhelming international presence, which could be capped off this year with immense international shame.
“Anti-globalism”. President Jair Bolsonaro has a certain aversion to the United Nations. During the 2018 electoral campaign, he called the organization a “communist meeting place,” and threatened to pull Brazil from it. The president and the United Nations certainly having diverging agendas, especially when it comes to indigenous rights—something dear to the...