Brazil's far-right president-elect eyes close U.S. ties

Let’s deepen relations, Buhari tells Brazil’s Bolsonaro

According to one analyst, the recovery in Brazilian markets hasn't been as much because investors were high on Bolsonaro but more because they shuddered at the prospect of any other option.

"His reckless plans to industrialize the Amazon in concert with Brazilian and worldwide agribusiness and mining sectors will bring untold destruction to the planet's largest rainforest and the communities who call it home, and spell disaster for the global climate", stated Amazon Watch program director Christian Poirer shortly after Bolsonaro's victory. "It's these left-wing people, who always put themselves above the rest, who are fascists". Eighteen elected officials have written to the secretary of State Mike Pompeo to become alarmed by the nostalgia of Jair Bolsonaro for the military dictatorship of 1964-1985, and to call the administration to Trump to bind any cooperation to the respect of human rights. "Bolsonaro is more convincing to Brazilians than his opponent was on issues like anti-corruption, security and, most importantly, the economy".

Bolsonaro's punchy, bare-bones campaign mirrored Trump's playbook as the Brazilian vowed to crush crime, railed against media coverage, embraced Christian identity and shifted tone sharply from previous leaders' celebration of ethnic diversity.

Sebastian Munoz, senior programme officer for Latin America at the War on Want group, said Bolsonaro's verbal attacks on indigenous groups "is an attempt to vilify them and generate hate towards them to advance this idea of the need to generate economic growth". Paulo Guedes, an economist educated at the US University of Chicago, has advocated for tax and spending cuts that he believes will reverse the country's deficit.

Bolsonaro pledged not to hire anyone tainted by corruption charges.

More news: Saudi Prosecutor Refuses to tell Turkey Location of Khashoggi’s Body

For global investors looking to make up losses suffered in the ongoing selloff that has seen the Dow Jones Industrial Average and the S&P 500 Index slip into negative territory on the year, Brazil could be a tempting option. Interest rates are at an all-time low of 6.50 per cent.

Bolsonaro, a former army captain whose vitriolic, hardline rhetoric has deeply divided Brazil, had promised in the past that the combined ministry would "come from the productive sector", saying: "We won't have any more fights over this". "Bolsonaro just happened to be in the right place at the right time".

"That's where I think there's a bit of wishful thinking in the market", Caicedo said.

The Globo newspaper, in a separate article citing unnamed sources close to the judge, reported on Tuesday that Moro was weighing Bolsonaro's offer, feeling that he could reassure citizens concerned the president-elect will not govern democratically.

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