Brazil’s reform agenda on the ropes, Covid-19 vaccine

A growing dispute over the direction of policymaking in Brazil threatens to derail the reform agenda and worsen the country’s public debt problem. Meanwhile, in a rare piece of good news for the region, governments in Mexico and Argentina announced a deal with pharmaceutical firm AstraZeneca to produce a Covid-19 vaccine. However, until there is more clarity over its effectiveness, we will refrain from revising our economic forecasts for the region.