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BRAZIL: Lula Replaces Health Minister, Formal Job Creation, Federal Debt Due

BRAZIL
BulletEM BulletEmerging Market News
  • President Lula fired Health Minister Nisia Trindade yesterday, according to Folha de S.Paulo, with Institutional Relations Minister Alexandre Padilha set to take up the position in her place. Folha reports that Lula will continue to reform his cabinet ahead. Separately, Agriculture Minister Carlos Favaro has warned that he could leave his post if the government starts to tax agricultural exports, according to a report by CNN Brasil. Favaro said that there is pressure for measures such as quotas and export taxes.
  • In terms of the macro calendar today, formal job creation figures for January are due at 1330GMT(0830ET), with consensus for a 70,990 gain last month. This will be followed by January federal debt figures at 1730GMT(1230ET).
    • Jan. Formal Job Creation Total, est. 70,990, prior -535,547
    • Jan. Federal Debt Total, prior 7.32t
  • On the political front, President Lula will attend a BRICS Sherpas meeting from 1430GMT(0930ET). Meanwhile, BCB Governor Galipolo will be attending the G20 Finance Minister and Central Bank Presidents meeting in South Africa.
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  • President Lula fired Health Minister Nisia Trindade yesterday, according to Folha de S.Paulo, with Institutional Relations Minister Alexandre Padilha set to take up the position in her place. Folha reports that Lula will continue to reform his cabinet ahead. Separately, Agriculture Minister Carlos Favaro has warned that he could leave his post if the government starts to tax agricultural exports, according to a report by CNN Brasil. Favaro said that there is pressure for measures such as quotas and export taxes.
  • In terms of the macro calendar today, formal job creation figures for January are due at 1330GMT(0830ET), with consensus for a 70,990 gain last month. This will be followed by January federal debt figures at 1730GMT(1230ET).
    • Jan. Formal Job Creation Total, est. 70,990, prior -535,547
    • Jan. Federal Debt Total, prior 7.32t
  • On the political front, President Lula will attend a BRICS Sherpas meeting from 1430GMT(0930ET). Meanwhile, BCB Governor Galipolo will be attending the G20 Finance Minister and Central Bank Presidents meeting in South Africa.