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BRAZIL: Lula, Mining Companies To Sign Reparation Agreement Over 2015 Dam Breach

BRAZIL
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  • USDBRL closed 0.42% lower at 5.6646 yesterday after Finance Minister Haddad reiterated the government’s commitment to fiscal responsibility, saying that it needed to reinforce the credibility of rules to ensure the sustainability of the country’s debt. Speaking at the same G-20 press conference, BCB Governor Campos Neto said that he expected the government to announce new measures soon, amid expectations that a package of spending cuts will be announced sometime after this Sunday’s second round of municipal elections.
  • Today, President Lula and Vale, BHP and Samarco are due to sign a reparation agreement over the 2015 Mariana dam breach at 1500BST(1000ET), followed by a press conference. Separately, the BCB’s Campos Neto will continue to attend the IMF meetings in Washington, which will include a meeting with investors, organised by Itaú, at 2200BST(1700ET).
  • On the data front, formal job creation and federal debt figures for September are due sometime in the coming sessions, possibly today. Meanwhile, Vale will hold a conference call with analysts at 1500BST(1000ET), following the release of its Q3 results on Thursday night.
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  • USDBRL closed 0.42% lower at 5.6646 yesterday after Finance Minister Haddad reiterated the government’s commitment to fiscal responsibility, saying that it needed to reinforce the credibility of rules to ensure the sustainability of the country’s debt. Speaking at the same G-20 press conference, BCB Governor Campos Neto said that he expected the government to announce new measures soon, amid expectations that a package of spending cuts will be announced sometime after this Sunday’s second round of municipal elections.
  • Today, President Lula and Vale, BHP and Samarco are due to sign a reparation agreement over the 2015 Mariana dam breach at 1500BST(1000ET), followed by a press conference. Separately, the BCB’s Campos Neto will continue to attend the IMF meetings in Washington, which will include a meeting with investors, organised by Itaú, at 2200BST(1700ET).
  • On the data front, formal job creation and federal debt figures for September are due sometime in the coming sessions, possibly today. Meanwhile, Vale will hold a conference call with analysts at 1500BST(1000ET), following the release of its Q3 results on Thursday night.