IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL5.13▼ 0.05% USD/MXN17.50▼ 0.17% USD/CLP932.70▲ 0.85% USD/COP3,235▼ 0.85% USD/PEN3.41▼ 0.04% USD/ARS1,482▼ 0.07% USD/UYU40.22▲ 0.96% USD/PYG6,045▲ 1.22% USD/BOB10.35▲ 6.04% USD/DOP58.37▲ 0.49% USD/CRC448.53▲ 1.22% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.41% USD/NIO36.62▲ 0.63% USD/VES722.19▲ 0.24% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 0.70% USD/TTD6.74▲ 1.05% EUR/BRL5.87▲ 0.84% BRENT 84.89 ▲ 1.91% WTI 79.75 ▲ 2.06% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.04% GOLD 4,028 ▲ 0.77% SILVER 58.05 ▲ 0.71% SOY 1,190 ▼ 1.00% CORN 459.75 ▲ 5.03% WHEAT 638.25 ▲ 1.79% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.61 ▼ 1.33% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,652 ▲ 0.66% ETH 1,784 ▲ 0.58% SOL 75.03 ▲ 0.23% XRP 1.07 ▲ 0.13% BNB 569.89 ▲ 0.57% ADA 0.16 ▲ 0.36% DOGE 0.07 ▲ 0.17% AVAX 6.45 ▲ 0.09% LINK 7.93 ▲ 0.73% DOT 0.84 ▲ 0.05% LTC 43.64 ▲ 0.35% BCH 233.24 ▼ 1.27% TRX 0.32 ▲ 0.17% XLM 0.18 ▼ 0.93% HBAR 0.07 ▼ 0.41% NEAR 1.97 ▲ 2.62% ATOM 1.53 ▼ 0.65% AAVE 95.89 ▲ 1.62% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR16.45▼ 0.14% USD/NGN 1,378 — 0.00% NIKKEI 66,792 ▼ 0.67% CSI300 4,677 ▼ 0.39% HSI 24,100 ▼ 0.47% NIFTY 24,075 ▼ 0.56% KOSPI 6,628 ▼ 2.63% JCI 6,063 ▲ 0.42% USD/JPY162.31▼ 0.08% USD/CNY6.78▲ 0.01% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD1.14▲ 0.08% GBP/USD1.34▼ 0.21% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD1.41▼ 0.16% US10Y 4.6090 ▲ 0.88% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL 5.13 ▼ 0.05% USD/MXN 17.50 ▼ 0.17% USD/CLP 932.70 ▲ 0.85% USD/COP 3,235 ▼ 0.85% USD/PEN 3.41 ▼ 0.04% USD/ARS 1,482 ▼ 0.07% USD/UYU 40.22 ▲ 0.96% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.37 ▲ 0.49% USD/CRC 448.53 ▲ 1.22% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.41% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.70% USD/TTD 6.74 ▲ 1.05% EUR/BRL 5.87 ▲ 0.84% BRENT 84.89 ▲ 1.91% WTI 79.75 ▲ 2.06% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.04% GOLD 4,028 ▲ 0.77% SILVER 58.05 ▲ 0.71% SOY 1,190 ▼ 1.00% CORN 459.75 ▲ 5.03% WHEAT 638.25 ▲ 1.79% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.61 ▼ 1.33% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,652 ▲ 0.66% ETH 1,784 ▲ 0.58% SOL 75.03 ▲ 0.23% XRP 1.07 ▲ 0.13% BNB 569.89 ▲ 0.57% ADA 0.16 ▲ 0.36% DOGE 0.07 ▲ 0.17% AVAX 6.45 ▲ 0.09% LINK 7.93 ▲ 0.73% DOT 0.84 ▲ 0.05% LTC 43.64 ▲ 0.35% BCH 233.24 ▼ 1.27% TRX 0.32 ▲ 0.17% XLM 0.18 ▼ 0.93% HBAR 0.07 ▼ 0.41% NEAR 1.97 ▲ 2.62% ATOM 1.53 ▼ 0.65% AAVE 95.89 ▲ 1.62% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR 16.45 ▼ 0.03% USD/NGN 1,378 — 0.00% NIKKEI 66,792 ▼ 0.67% CSI300 4,677 ▼ 0.39% HSI 24,100 ▼ 0.47% NIFTY 24,075 ▼ 0.56% KOSPI 6,628 ▼ 2.63% JCI 6,063 ▲ 0.42% USD/JPY 162.32 ▼ 0.07% USD/CNY 6.7812 ▲ 0.15% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD 1.1396 ▲ 0.08% GBP/USD 1.3360 ▲ 0.08% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD 1.4126 ▼ 0.19% US10Y 4.6090 ▲ 0.88%
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Tuesday, July 14, 2026

Opinion: Brazil’s Political “Reform”

By · August 11, 2017 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The Brazilian Chamber of Deputies, pleased as punch to have ensured that President Temer could not be prosecuted, is now dedicated to saving the bacon of its own members by adopting something called political reform.

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There can be no doubt that the current method of electing federal legislative representatives of the people is a disaster. There are now 27 political parties represented in the federal Chamber, none of which stand for anything at all other than the personal aggrandizement and unjust enrichment of their leaders.

Worse, neither the parties nor their leaders care a whit about the people who voted in the last election — which explains the overwhelming legislative support for a President who has less than seven percent of the total population supporting him.

What the parties and their leaders are now doing is amending the constitution to install a new electoral system that will ensure they remain in office. This system is called the “Distritão” which literally translates into “big district”.

This system has been tried and rejected by many countries, including Japan, and is now in place in only three countries — Afghanistan, Jordan and Vanuatu — none of which has ever been noted for its democratic characteristics.

Under the Distritão, every state is an electoral district — there are no geographical subdivisions, so those candidates receiving the most votes statewide are elected. Each state, under the Constitution, has between 8 and 70 federal deputies. The Distritão thus resembles elections for the Senate, where each state has three senators, and the candidates with the most votes are seated.

Under Brazil’s current “proportional” system, like the Distritão, each state is an electoral district. People vote for individual candidates, but the seats in the Chamber are allocated to political parties, depending on the proportion of the overall vote their list of candidates has garnered.

Statistics show that, on average, some ten percent of the members of the Chamber received fewer votes than other candidates. This usually occurs when a party has a huge vote-getter (e.g. Tiririca the Clown) and other candidates of that party ride the coattails into office, even though they themselves received very few votes.

The Distritão “cures” this alleged defect by eliminating votes for a political party — votes go to individual candidates only, just as they do in Senate races, and not to the party.

The main effect of the Distritão is that well-known politicians have a much greater possibility of remaining in office — name recognition is key in Brazil. The Distritão will reduce the number of representatives from places outside the state capital, where the political leaders and the mass media reign supreme. And it will reduce the number of candidates from splinter groups within parties.

In a country where most of the well-known politicians are known to be corrupt, it seems highly unlikely that, under the Distritão, voters will be able to “throw the rascals out” because the rascals will control the parties and become perennial candidates.

There are far better electoral systems around the world, but Brazil’s corrupt Congress will never choose one of those.

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