Business leaders in Davos ‘don’t care’ if Brazil’s Bolsonaro is a populist — it’s all about economic reform


Bolsonaro has attended a number of working lunches with global institutional investors in Davos, hoping to showcase the “unique point in time” his country is going through. He was spotted on the same dinner table as Apple CEO Tim Cook and Microsoft CEO Satya Nadella on Wednesday.

The photo of the unlikely group was widely shared on social media, after Axios reporter Felix Salmon posted it to Twitter, likely due to the seemingly conflicting views Bolsonaro holds to those of Cook and Nadella.

When CNBC’s Nancy Hungerford asked whether Bolsonaro was capable of delivering on his promises, Itau’s Latam Chairman Ricardo Marino replied: “That’s the big question.”

“The top priority is, for sure, the approval of the social security reform,” Marino said.

The country’s benchmark stock index reached a fresh all-time high on Thursday, amid improving investor sentiment about the new government’s pension reform plans.

On Friday, the Bovespa — one of 2018’s top performing indexes worldwide — stood at 97,677 points.

Source: CNBC

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