What Would Happen If Brazil Privatized Its National Oil Company?

A massive surge in inflation is threatening Brazil’s post-pandemic economic recovery. Latin America’s largest economy was savaged by the coronavirus with Brazil suffering the third most COVID-19 cases and second-highest deaths globally. As a result, Brazil’s 2020 gross domestic product shrank by just over 4%. Since the economy began recovering inflation has surged to over 10%, on an annualized basis, causing the fiscal outlook for Latin America’s largest economy to deteriorate. This forced Brazil’s central bank to…