The Brazilian president’s determination to roll back lockdown measures caused him to fire his health minister this week but, with states and municipalities taking the lead of containment policies, it probably won’t change much in practice. In the meantime, the country’s congress looks set to approve a ‘war budget’ which will allow a much larger fiscal response, albeit at the cost of a worsening debt problem. Argentina’s debt position is altogether more problematic and the restructuring offer made to bondholders suggests that the government is playing hardball.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services