IBOV 177,193 ▼ 0.38% IPSA 11,057 ▲ 0.28% IPC MEX 66,538 ▲ 0.06% MERVAL 3,308,492 ▲ 0.86% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,917.82 ▼ 0.01% USD/BRL5.12▲ 0.27% USD/MXN17.48▲ 0.03% USD/CLP926.17▲ 0.14% USD/COP3,237▼ 0.27% USD/PEN3.39▲ 0.07% USD/ARS1,491▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 2.07% USD/DOP58.37▼ 0.19% USD/CRC448.53▼ 0.06% USD/GTQ7.62▼ 0.10% USD/HNL26.73▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES719.54▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▼ 0.25% USD/TTD6.74▼ 0.12% EUR/BRL5.85▲ 0.53% BRENT 78.76 ▲ 3.62% WTI 74.01 ▲ 3.64% IRON ORE 161.91 — — COPPER 6.33 ▲ 1.55% GOLD 4,062 ▼ 1.04% SILVER 58.68 ▼ 1.89% SOY 1,194 ▼ 0.19% CORN 466.50 ▲ 6.51% WHEAT 641.25 ▲ 1.46% COFFEE 335.25 ▼ 2.26% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 141.50 ▼ 4.29% COTTON 82.94 ▲ 3.78% COCOA 5,803 ▼ 1.96% BEEF 230.65 ▼ 1.93% CATTLE 354.95 ▲ 0.10% LITHIUM 70.83 ▼ 2.06% PETR4 40.70 ▲ 2.65% VALE3 73.87 ▼ 0.42% ITUB4 44.29 ▼ 0.02% BBDC4 18.95 ▲ 0.48% ABEV3 15.85 ▲ 0.19% BBAS3 20.53 ▼ 0.24% B3SA3 15.31 ▼ 0.71% WEGE3 45.35 ▼ 2.49% PRIO3 55.91 ▲ 0.83% SUZB3 41.86 ▲ 0.75% RENT3 40.70 ▼ 0.97% AZZA3 18.85 ▼ 1.31% CSAN3 4.01 ▼ 1.47% RAIZ4 0.35 — 0.00% PCAR3 2.64 ▼ 3.30% GMAT3 3.95 ▼ 0.50% PSSA3 54.29 ▼ 1.24% CVCB3 1.25 — 0.00% POSI3 3.93 ▼ 1.01% SLCE3 14.17 ▲ 1.07% NATU3 8.58 ▼ 1.15% BRKM5 6.68 ▲ 0.75% RANI3 8.02 ▲ 0.12% CSNA3 5.19 ▲ 0.19% CMIN3 5.44 ▲ 4.02% USIM5 8.41 ▼ 0.47% GGBR4 23.24 ▲ 1.00% ENEV3 27.41 ▼ 0.51% CPFE3 47.78 ▼ 0.19% CMIG4 11.30 ▼ 0.70% EQTL3 40.59 ▼ 0.78% LREN3 14.33 ▼ 1.98% VIVT3 35.59 ▼ 0.45% RAIL3 14.26 ▼ 0.70% KLABIN 17.66 ▲ 0.68% RAIA DROGASIL 18.51 ▼ 1.39% RDOR3 35.90 ▼ 0.33% HAPV3 10.60 — 0.00% FLRY3 16.50 ▲ 0.49% SMTO3 16.58 ▲ 1.28% UGPA3 31.09 ▲ 1.24% VBBR3 33.44 ▲ 1.33% BBSE3 40.29 ▼ 0.15% BPAC11 58.54 ▼ 0.32% CURY3 33.63 ▼ 1.70% AERI3 2.10 ▲ 0.48% VIVARA 23.41 ▼ 0.51% COMPASS 25.30 ▼ 0.78% VAMOS 3.04 ▼ 0.65% SANB11 27.84 ▲ 0.80% ASAI3 8.81 ▼ 0.68% SBSP3 30.77 ▼ 1.09% WALMEX 49.54 ▲ 0.45% GMEXICO 198.34 ▼ 0.45% FEMSA 223.61 ▲ 0.13% CEMEX 21.80 ▼ 0.27% GFNORTE 186.69 ▲ 0.05% BIMBO 56.04 ▼ 0.11% TELEVISA 9.77 ▲ 0.41% AMX 22.84 ▲ 0.62% GAP 415.19 ▲ 0.66% ASUR 284.15 ▼ 0.34% OMA 236.47 ▼ 0.00% KOF 181.01 ▲ 0.48% GRUMA 280.42 ▼ 1.10% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 76,875 ▲ 3.33% GGAL 8,370 ▲ 0.42% PAMPA 5,265 ▲ 1.64% TXAR 666.00 ▼ 0.75% ALUAR 982.00 ▲ 0.67% TGS 9,730 ▲ 1.41% CEPU 2,410 ▲ 0.58% MIRGOR 17,025 ▼ 1.30% COME 45.90 ▼ 0.02% LOMA NEGRA 3,585 ▲ 0.07% BYMA 312.75 ▼ 0.40% TELECOM ARG 4,270 ▲ 0.59% ECOPETROL 15.78 ▲ 1.28% BANCOLOMBIA 82.50 ▼ 0.54% GRUPO AVAL 5.09 ▲ 0.39% CREDICORP 402.54 ▲ 0.43% SOUTHERN COPPER 176.27 ▲ 0.25% BUENAVENTURA 29.79 ▼ 0.70% MERCADOLIBRE 1,893 ▲ 2.23% NUBANK 13.71 ▼ 0.40% XP 16.73 ▼ 1.12% PAGSEGURO 9.35 ▲ 1.08% STONE 11.28 ▲ 0.58% GLOBANT 31.17 ▲ 4.02% TECNOGLASS 44.08 ▲ 0.40% GAP AIRPORT 235.64 ▲ 0.50% ASUR 284.15 ▼ 0.34% OMA AIRPORT 108.09 ▲ 0.05% AMX ADR 26.16 ▲ 0.58% FEMSA ADR 128.01 ▲ 0.27% CEMEX ADR 12.49 ▲ 0.08% PETROBRAS ADR 17.71 ▲ 2.25% VALE ADR 14.35 ▼ 0.76% ITAU ADR 8.60 ▼ 0.29% SANTANDER BR 5.45 ▲ 1.02% AMBEV ADR 3.07 ▲ 0.00% CSN 1.03 ▲ 1.58% GERDAU 4.55 ▲ 1.00% LATAM ADR 54.93 ▼ 2.69% BTC 62,162 ▼ 2.50% ETH 1,767 ▼ 2.14% SOL 75.23 ▼ 2.14% XRP 1.07 ▼ 1.72% BNB 566.50 ▼ 1.30% ADA 0.16 ▼ 2.44% DOGE 0.07 ▼ 1.04% AVAX 6.57 ▲ 2.62% LINK 7.89 ▼ 1.26% DOT 0.83 ▼ 2.04% LTC 43.25 ▼ 1.64% BCH 238.70 ▼ 0.53% TRX 0.33 ▼ 1.54% XLM 0.18 ▼ 2.25% HBAR 0.07 ▼ 0.91% NEAR 1.90 ▲ 0.39% ATOM 1.54 ▼ 1.86% AAVE 94.52 ▼ 2.62% SELIC 14.25% EMBRAER 83.05 ▼ 1.83% EMBRAER ADR 64.84 ▼ 1.77% JBS 11.92 ▲ 0.09% JBS BDR 61.04 ▲ 0.43% MBRF3 15.25 ▼ 1.93% MBRFY 2.89 ▼ 4.30% INTER 5.70 ▼ 1.99% EGX 52,608 ▲ 0.67% USD/ZAR16.37▲ 0.28% USD/NGN1,378▼ 0.05% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY162.22▲ 0.31% USD/CNY6.78▼ 0.01% DAX 25,105 ▲ 0.15% CAC 8,348 ▲ 0.11% FTSE 10,484 ▼ 0.12% MIB 52,754 ▲ 0.26% IBEX 19,389 ▲ 0.02% STOXX 640.42 ▼ 0.11% EUR/USD1.14▲ 0.18% GBP/USD1.34▼ 0.01% SPX 7,551 ▼ 0.33% DJI 52,591 ▼ 0.09% NDX 29,825 ▲ 0.33% RUT 2,978 ▼ 0.49% TSX 35,287 ▼ 0.05% VIX 16.37 ▲ 8.92% USD/CAD1.41▼ 0.13% US10Y 4.5810 ▲ 0.26% IBOV 177,193 ▼ 0.38% IPSA 11,057 ▲ 0.28% IPC MEX 66,538 ▲ 0.06% MERVAL 3,308,492 ▲ 0.86% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,917.82 ▼ 0.01% USD/BRL 5.12 ▲ 0.33% USD/MXN 17.47 ▼ 0.00% USD/CLP 926.16 ▲ 0.14% USD/COP 3,237 ▼ 0.27% USD/PEN 3.39 ▲ 0.00% USD/ARS 1,491 ▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 2.07% USD/DOP 58.37 ▼ 0.19% USD/CRC 448.53 ▼ 0.06% USD/GTQ 7.62 ▼ 0.10% USD/HNL 26.73 ▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES 719.54 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.15% USD/TTD 6.74 ▲ 1.31% EUR/BRL 5.85 ▲ 0.61% BRENT 78.76 ▲ 3.62% WTI 74.01 ▲ 3.64% IRON ORE 161.91 — — COPPER 6.33 ▲ 1.55% GOLD 4,062 ▼ 1.04% SILVER 58.68 ▼ 1.89% SOY 1,194 ▼ 0.19% CORN 466.50 ▲ 6.51% WHEAT 641.25 ▲ 1.46% COFFEE 335.25 ▼ 2.26% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 141.50 ▼ 4.29% COTTON 82.94 ▲ 3.78% COCOA 5,803 ▼ 1.96% BEEF 230.65 ▼ 1.93% CATTLE 354.95 ▲ 0.10% LITHIUM 70.83 ▼ 2.06% PETR4 40.70 ▲ 2.65% VALE3 73.87 ▼ 0.42% ITUB4 44.29 ▼ 0.02% BBDC4 18.95 ▲ 0.48% ABEV3 15.85 ▲ 0.19% BBAS3 20.53 ▼ 0.24% B3SA3 15.31 ▼ 0.71% WEGE3 45.35 ▼ 2.49% PRIO3 55.91 ▲ 0.83% SUZB3 41.86 ▲ 0.75% RENT3 40.70 ▼ 0.97% AZZA3 18.85 ▼ 1.31% CSAN3 4.01 ▼ 1.47% RAIZ4 0.35 — 0.00% PCAR3 2.64 ▼ 3.30% GMAT3 3.95 ▼ 0.50% PSSA3 54.29 ▼ 1.24% CVCB3 1.25 — 0.00% POSI3 3.93 ▼ 1.01% SLCE3 14.17 ▲ 1.07% NATU3 8.58 ▼ 1.15% BRKM5 6.68 ▲ 0.75% RANI3 8.02 ▲ 0.12% CSNA3 5.19 ▲ 0.19% CMIN3 5.44 ▲ 4.02% USIM5 8.41 ▼ 0.47% GGBR4 23.24 ▲ 1.00% ENEV3 27.41 ▼ 0.51% CPFE3 47.78 ▼ 0.19% CMIG4 11.30 ▼ 0.70% EQTL3 40.59 ▼ 0.78% LREN3 14.33 ▼ 1.98% VIVT3 35.59 ▼ 0.45% RAIL3 14.26 ▼ 0.70% KLABIN 17.66 ▲ 0.68% RAIA DROGASIL 18.51 ▼ 1.39% RDOR3 35.90 ▼ 0.33% HAPV3 10.60 — 0.00% FLRY3 16.50 ▲ 0.49% SMTO3 16.58 ▲ 1.28% UGPA3 31.09 ▲ 1.24% VBBR3 33.44 ▲ 1.33% BBSE3 40.29 ▼ 0.15% BPAC11 58.54 ▼ 0.32% CURY3 33.63 ▼ 1.70% AERI3 2.10 ▲ 0.48% VIVARA 23.41 ▼ 0.51% COMPASS 25.30 ▼ 0.78% VAMOS 3.04 ▼ 0.65% SANB11 27.84 ▲ 0.80% ASAI3 8.81 ▼ 0.68% SBSP3 30.77 ▼ 1.09% WALMEX 49.54 ▲ 0.45% GMEXICO 198.34 ▼ 0.45% FEMSA 223.61 ▲ 0.13% CEMEX 21.80 ▼ 0.27% GFNORTE 186.69 ▲ 0.05% BIMBO 56.04 ▼ 0.11% TELEVISA 9.77 ▲ 0.41% AMX 22.84 ▲ 0.62% GAP 415.19 ▲ 0.66% ASUR 284.15 ▼ 0.34% OMA 236.47 ▼ 0.00% KOF 181.01 ▲ 0.48% GRUMA 280.42 ▼ 1.10% KIMBER 38.13 ▼ 0.81% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 76,875 ▲ 3.33% GGAL 8,370 ▲ 0.42% PAMPA 5,265 ▲ 1.64% TXAR 666.00 ▼ 0.75% ALUAR 982.00 ▲ 0.67% TGS 9,730 ▲ 1.41% CEPU 2,410 ▲ 0.58% MIRGOR 17,025 ▼ 1.30% COME 45.90 ▼ 0.02% LOMA NEGRA 3,585 ▲ 0.07% BYMA 312.75 ▼ 0.40% TELECOM ARG 4,270 ▲ 0.59% ECOPETROL 15.78 ▲ 1.28% BANCOLOMBIA 82.50 ▼ 0.54% GRUPO AVAL 5.09 ▲ 0.39% CREDICORP 402.54 ▲ 0.43% SOUTHERN COPPER 176.27 ▲ 0.25% BUENAVENTURA 29.79 ▼ 0.70% MERCADOLIBRE 1,893 ▲ 2.23% NUBANK 13.71 ▼ 0.40% XP 16.73 ▼ 1.12% PAGSEGURO 9.35 ▲ 1.08% STONE 11.28 ▲ 0.58% GLOBANT 31.17 ▲ 4.02% TECNOGLASS 44.08 ▲ 0.40% GAP AIRPORT 235.64 ▲ 0.50% ASUR 284.15 ▼ 0.34% OMA AIRPORT 108.09 ▲ 0.05% AMX ADR 26.16 ▲ 0.58% FEMSA ADR 128.01 ▲ 0.27% CEMEX ADR 12.49 ▲ 0.08% PETROBRAS ADR 17.71 ▲ 2.25% VALE ADR 14.35 ▼ 0.76% ITAU ADR 8.60 ▼ 0.29% SANTANDER BR 5.45 ▲ 1.02% AMBEV ADR 3.07 ▲ 0.00% CSN 1.03 ▲ 1.58% GERDAU 4.55 ▲ 1.00% LATAM ADR 54.93 ▼ 2.69% BTC 62,162 ▼ 2.50% ETH 1,767 ▼ 2.14% SOL 75.23 ▼ 2.14% XRP 1.07 ▼ 1.72% BNB 566.50 ▼ 1.30% ADA 0.16 ▼ 2.44% DOGE 0.07 ▼ 1.04% AVAX 6.57 ▲ 2.62% LINK 7.89 ▼ 1.26% DOT 0.83 ▼ 2.04% LTC 43.25 ▼ 1.64% BCH 238.70 ▼ 0.53% TRX 0.33 ▼ 1.54% XLM 0.18 ▼ 2.25% HBAR 0.07 ▼ 0.91% NEAR 1.90 ▲ 0.39% ATOM 1.54 ▼ 1.86% AAVE 94.52 ▼ 2.62% SELIC 14.25% EMBRAER 83.05 ▼ 1.83% EMBRAER ADR 64.84 ▼ 1.77% JBS 11.92 ▲ 0.09% JBS BDR 61.04 ▲ 0.43% MBRF3 15.25 ▼ 1.93% MBRFY 2.89 ▼ 4.30% INTER 5.70 ▼ 1.99% EGX 52,608 ▲ 0.67% USD/ZAR 16.35 ▲ 0.05% USD/NGN 1,378 ▲ 0.15% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY 162.13 ▲ 0.28% USD/CNY 6.7651 ▼ 0.02% DAX 25,105 ▲ 0.15% CAC 8,348 ▲ 0.11% FTSE 10,484 ▼ 0.12% MIB 52,754 ▲ 0.26% IBEX 19,389 ▲ 0.02% STOXX 640.42 ▼ 0.11% EUR/USD 1.1427 ▲ 0.07% GBP/USD 1.3394 ▼ 0.03% SPX 7,551 ▼ 0.33% DJI 52,591 ▼ 0.09% NDX 29,825 ▲ 0.33% RUT 2,978 ▼ 0.49% TSX 35,287 ▼ 0.05% VIX 16.37 ▲ 8.92% USD/CAD 1.4141 ▼ 0.08% US10Y 4.5810 ▲ 0.26%
since 2009
Monday, July 13, 2026

Opinion: Brazil’s Presidential Dilemma, Revisited

By · March 11, 2016 · 2 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The Curmudgeon asks his readers: put yourself in President Dilma’s shoes and ponder what you would do if you were President now. You know your political support has almost vanished and is getting worse. You know the economic austerity program (which you personally loathe) has no chance of success without that support.

One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
The Curmudgeon, aka Michael Royster.
The Curmudgeon, aka Michael Royster.
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

You also know that the federal investigators are very close to revealing more and more sordid details of the corrupt spoils system begun by former President Lula, and that he has personally enriched himself and his family as a result.

You also know that you have almost no cabinet ministers you can really trust. You increased their number to an absurd 39, and distributed most of them to unqualified incompetent hacks whose bosses promised to support your legislative programs—but they don’t.

Your Minister of Justice, whom you trusted, resigned under heavy pressure from the PT bigwigs who ought to support you but don’t. You let your latest Chief of Staff Jacques Wagner, the Boss of Bahia, choose his successor — and Jacques chose a complete unknown (from Bahia, of course) who’s prohibited from taking the job because he’s a public prosecutor – sheer incompetence.

So, what do you do if you’re Dilma? You offer Lula a position (any position, take your pick) as a cabinet minister! Lula has been trying to run Brazil from behind the scenes ever since he engineered your election and re-election, so you move him to stage front.

In short, you try to abdicate the Presidency in favor of Lula, perhaps because you know he may actually be able to get something done. Unfortunately for you, Lula is no fool and he’s resisting – at least so far.

So, if Lula remains resolute, what do you do? Do you resign and let Vice President Temer do the dirty work? Why not?

The Curmudgeon will emit more dismal columns opportunely.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.