Moody’s has upgraded Brazil’s credit rating, the Gas Assistance Program will be reformatted to comply with the fiscal framework, and the CAE will hold a public hearing on Tax Reform

BRAZIL POLITICS - Report 02 Oct 2024 by Murillo de Aragão and Cristiano Noronha

The credit rating agency Moody’s has upgraded Brazil’s sovereign credit rating from Ba2 to Ba1, maintaining a Positive outlook. Late yesterday, Finance Minister Fernando Haddad spoke to the press, acknowledging that achieving investment-grade status is not guaranteed, and nothing is “assured.” He also stated yesterday that President Lula authorized the economic team to present a redesign of the bill that creates a new format for funding the Gas Assistance Program within the rules of the fiscal framework. Today, the Senate Economic Affairs Committee (CAE) will hold a public hearing on PLP No. 108/24, which deals with the establishment of the Management Committee (regulation of Tax Reform).

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