Brazilian President Jair Bolsonaro this week has shown further signs that he is less committed to market orthodoxy than many had hoped. For now, it seems that parts of the administration are working hard to keep investors on board. But it wouldn’t take much for the president to override his ministers, particularly in light of recent polls suggesting that his approval ratings are falling. Elsewhere, the Argentine government’s panic about President Macri’s dwindling re-election prospects suggests that further interventionist policies could be on the cards.
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