Brazil Daily

Rio de Janeiro, a city in default

Good morning! We’re covering today Rio de Janeiro’s financial collapse. And the 2020 budget—the first of the Bolsonaro era. (This newsletter is for platinum subscribers only. Become one now!)

Rio on the brink of bankruptcy

Rio de Janeiro residents woke up on Tuesday morning to the news that Mayor Marcelo Crivella had decided to suspend all payments made by the municipal administration—affecting government contractors and civil servants, with salaries also being suspended. “The goal is to tidy up the books. I hope to unfreeze the budget as soon as possible,” said state finance secretary Cesar Barbiero—without giving any indication of...

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