Twitter users attribute Brazil’s credit rating improvement to Bolsonaro’s administration
Even though the Lula administration attempted to claim credit for the improved rating, prominent Twitter users in Brazil made clear, that Jair Bolsonaro’s government is responsible for Brazil’s good standing and not Lula’s.
Twitter users added a contextual note to a tweet from Arthur Lira, President of the Chamber of Deputies, regarding Brazil’s new credit rating, which improved for the first time since 2018 released by the risk rating agency Fitch.
Based on user suggestions, the note mentions that Brazil’s improved rating “reflects macroeconomic and fiscal performance in recent years, during the term of the previous administration.”
The clarification was appended to a tweet from Lira celebrating Brazil’s credit rating upgrade on Wednesday.
He attributed the change to the current government’s economic policy, emphasizing the institutional support from the Chamber of Deputies.
Fitch upgraded Brazil’s sovereign risk rating from BB- to BB, with a stable outlook.
The agency cites “better than expected macroeconomic and fiscal performance despite recurring shocks in recent years, proactively supported by policy reforms” as the reason for the improvement.
Fitch’s statement also mentioned significant approvals pertinent to Brazil’s recovery, such as pension reform and the autonomy of the Central Bank, both enacted under former President Jair Bolsonaro’s administration.
Twitter introduced “Community Notes”, a collaborative feature in December 2022, aiming to better inform users.
In Brazil, it was launched in March, and since May, it is also available for images.
The Community Notes feature identifies notes useful to and by people with varying viewpoints.
If a tweet’s author disagrees with the added context, they can request further review, performed by regular platform users who have registered to contribute.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief