The Unbearable Lightness of Petrobras

Following a very (or not….) controversial vote from the Congress last week, we need to understand why the Petrobras collapse and the pre-salt is so important for Brazil. For those who read Portuguese, here is a highly recommended reading from today’s Estadão:,a-insustentavel-leveza-da-petrobras,10000018942

PS: Sorry for skipping the Moody’s downgrade last week. I was out for a few days.

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A blog on macroeconomics and public policy by Tony Yates.

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