Power

Has Economy Minister Paulo Guedes lost his mojo?

Dropped into the government as the man who would "save Brazil," Economy Minister Paulo Guedes has been increasingly sidelined

Has Brazil's Paulo Guedes lost his mojo?
Happy marriage? Guedes and Bolsonaro don’t always see eye to eye. Photo: Isac Nóbrega/PR

Approaching 70 years old, economist Paulo Guedes had little to no experience in the public sector when he decided to sell his ideas for the Brazilian economy to a presidential candidate most pundits disregarded as a joke: the far-right former Army captain Jair Bolsonaro. The “marriage” between the pair — which the latter likes to call it — bore immediate fruits for both men. Mr. Bolsonaro could credibly champion an ultra-libertarian economic platform, while Mr. Guedes lent his credentials as a bonafide financial market operator to a would-be president who struggled to understand or explain even most basic macroeconomic...

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