EM equity investors were given another reminder of the political risk inherent in the asset class last week, when Brazilian president Jair Bolsonaro ousted the CEO of oil giant Petrobras (Petróleo Brasileiro S.A.). The highly rated Roberto Castello Branco (himself a Bolsonaro appointment in 2019) is to be replaced by, Joaquim Silva e Luna, an army general with no oil and gas experience, to run the state-owned enterprise.
Emerging Market Risk Revisited: Petrobras
Emerging Market Risk Revisited: Petrobras
Emerging Market Risk Revisited: Petrobras
EM equity investors were given another reminder of the political risk inherent in the asset class last week, when Brazilian president Jair Bolsonaro ousted the CEO of oil giant Petrobras (Petróleo Brasileiro S.A.). The highly rated Roberto Castello Branco (himself a Bolsonaro appointment in 2019) is to be replaced by, Joaquim Silva e Luna, an army general with no oil and gas experience, to run the state-owned enterprise.