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Would you invest in Petrobras?
Would you invest in Petrobras?
This past week, Brazil's president Bolsonaro had the president of Petrobrás changed. For those who, like me, follow the news, there would have been discontent with the attitude of the Petrobras executive 1) for declaring that the truckers' strike had nothing to do with the oil company and 2) due to the prices charged by the company, pegged international quotation.
According to Bolsonaro, there is no desire to "interfere" with Petrobras.
But how, then, can one understand what happened? This doubt seems to have permeated the market. Petrobras shares fell sharply last Friday, shortly after this episode.
Market analysts argue that the event shows that president Bolsonaro lacks conformity of good practices, good governance, to create stability, predictability and institutional security.
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