To Please The Market, Bolsonaro Praises Guedes and Says He Is Not Fighting with Petrobras

In an event with mayors, the president changed his tone in relation to the president of Petrobras and said that he is a 'good manager'


After driving down the stock market with his declarations and intervention at Petrobras, President Jair Bolsonaro (no party) sought to reassure investors on Tuesday (23) by praising Minister Paulo Guedes (Economy) and saying that he does not want to fight with the oil company.

"Energy is an extremely important thing for us. We don't have a fight with Petrobras. We do want that, increasingly, it can give us transparency and predictability," said Bolsonaro when speaking at an event at the Palácio do Planalto with dozens of mayors across the country.

Brazil's President Jair Bolsonaro speaks during a ceremony to launch a program to help new mayors, at Planalto Palace in Brasilia, Brazil, February 23, 2021. REUTERS/Ueslei Marcelino - REUTERS

"We do not need to hide readjustments or whatever is included in the final price of fuels," continued the president.

Bolsonaro also celebrated Petrobras' recovery the day after the company recorded losses of more than 20% in its shares.

Addressing "all those who did not get carried away by the media fallacies," he said the state-owned company had recovered 10% on Tuesday.

Translated by Kiratiana Freelon

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