☀ Domingo Brief — Brazil’s Venezuela Veto

Welcome back to the Domingo Brief! This week, we’re keeping up with Argentinean interest rates, Brazil-Venezuela tensions, and more.

Trivia of the Week 🎯

A sparse 27% of you correctly guessed Axel Kicillof as the longtime Peronist figure who appears to have turned against ex-president Cristina Fernandez de Kirchner (CFK) in upcoming primary elections to decide the head of the left-wing Justicialist Party. The popular governor of the province of Buenos Aires (not the city) got his political start as a Kirchnerist activist. However, he has been slow this year to support her leadership and agenda for the party, leading her to allude to him being a traitor.

Each week, tune back in for the answer to the previous week’s trivia question. No cheating!

🇦🇷 Argentina’s central bank has lowered its benchmark interest rate for the first time in nearly half a year, cutting borrowing costs down from 40% to 35%. For reference, a year ago the country was looking at an interest rate of roughly 133%, demonstrating massive rate cuts as the administration of President Javier Milei seeks to reinvigorate the national economy. Monthly inflation has dropped over this same time period from 25.5% last December to just 3.5% in September, while the country’s poverty rate hovers at over 50%.

🇧🇷 Gabriel Galípolo has been confirmed by the Senate of Brazil as the country’s next head of the central bank by an overwhelming 66-5 majority vote. The 42-year old nominee, who is currently the central bank’s monetary policy director and who was nominated by President Luiz Inácio Lula da Silva, will take office in January for a four-year term.

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