Truce Between Brazil’s Economy Chief and Congress Lifts Real
- Guedes and Maia invited to reconcile over dinner on Monday
- Deal comes after divergences on how to fund a key social plan
Paulo Guede
Photographer: Andre Borges/BloombergThis article is for subscribers only.
Brazil’s Economy Minister Paulo Guedes and the powerful lower house Speaker Rodrigo Maia announced a truce after more than a month of bickering over reforms and how to tackle a widening fiscal deficit. Local markets rallied.
After having dinner in Brasilia on Monday evening together with a group of legislators, Maia apologized for disrespectful remarks he’d made about Guedes recently and said both must work to protect fiscal responsibility in Brazil.