Brazil Focus – David Fleischer Phone: 55-61-3327-8085Cell: 99218-2771 e-mail: fleischer@uol.com.br

BRAZIL 2019

Political/Diplomatic/Economic Events & Dates in 2019Updated thru 31 st December 2019

January 1 -- New Years Day – National Holiday 1 -- President Jair Messias Bolsonaro sworn into office in Brasília 1 -- New minimum wage of R$ 998,00 went into effect New INSS benefit ceiling R$ 5.839,45 2 -- December and 2018 trade surplus data December US$ 6.639 billion 2018 US$ 58.298 billion 2 -- FGV IPC-S for 2018 -- +4.32% 2 -- Central Bank, 2018 FX flows -US$ 995 million 4 -- Justice Minister Sérgio Moro athorized National Security fForce Ceará 5 -- Savings accounts net positive results for 2018 R$ +R$ 71 billion 7 -- FGV announced IGP-DI for December -0.45% (+7.10% in 2018) 8 -- IBGE – November Industrial Production +0.1% Mom in November 8 -- Brazil exited UN migration pact 8 -- Auto production in 2018 2,880,724 units (+6.7% YoY) 9 -- EIU 2018 “Democracy Index” Brazil ranked 50th (flawed democracy) 10 -- Bolsonaro government did not oppose Boeing-Embraer merger 10 -- Brazil ranked fifth of Big Mac Index 11 -- IBGE posted December IPCA +0.15% & +3.75% in 2018

12 -- Italian terrorist Cesare Battisti arrested in Bolivia; extradited to Rome 15 -- IBGE: November retail sales +2.9% MoM & +4.4% YoY 15 -- Pres. Bolsonaro issued decrees “flexibilizing” ownership and bearing firearms 15 -- CNI Industrial Sector in November +2.1% MoM & +1.8% YoY 16 -- IBGE – Services Sector in November +0.9% YoY 16 -- Argentine President Mauricio Macri visited Brasília 16 -- EU imposed steel import quota on Brazil 16 -- Italian Enel announced sale of solar & wind energy (BA & PI) to Chinese CGN 17 -- Central Bank announced November 2017 IBC-Br +0.29% MoM 17 -- Embraer & Boeing signed accord uniting the two companies 17 -- Pres. Bolsonaro appointed Temer’s Defense Minister Gen. Joaquim Silva e Luna - Itaipu 17 -- FGV announced IGP-10 for January -0.26% 20 – City Holiday in Rio de Janeiro [St. Sebastian]

21 -- Martin Luther King Day observed [National Holiday in US] 23 -- IBGE released its IPCA-15 +0.30%

23 -- Caged 334,462 jobs were lost in December 2018; in 2018, 529,554 new jobs created 23-26 -- World Economic Forum met in Davos-Klosters, Switzerland; Pres. Bolsonaro attended

Economy, Justice and Foreign Ministers also attended 24 -- Dep. Jean Wyllys (PSoL-RJ) renounced mandate & self-exile in Europe; his alternate,

David Miranda, became federal dep.24 – SRF - Tax collections R$ 1.457 trillion in 2018 (4.74% YoY)

25 -- Vale dam retaining iron ore tailings burst in Brumadinho, MG 25 -- Ex-Gov. Beto Richa (PSDB-PR) arrested (again)) 25 – 465th Anniversary of São Paulo (city holiday)

28 -- Pres. Bolsonaro had 7-hour surgery at Albert Einstein Hospital in SP, remove external colonoscopy receptacle and re-link his large intestine. V-P Mourão occupied Presidency

28 -- Federal Police Operation Terra de Ninguem in Salvador 28 -- Transparency International downgraded Brazil; 96th 105th

rank 28 -- Lula unable to attend older brother’s funeral in SP 28 -- Petrobras [finally] sold the Pasedena refinery in Houston, TX 29 -- Federal Police Operation Circus Maximus against BRB & Trump Hotel in Rio

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30 -- ABAS Growth of supermarket sales “weak” in 2018 +2.7% YoY 30 -- Federal Police Operation Cash Delivery in Goás against ex-Gov. Marconi Perillo (PSDB) 30 -- FGV: January IGP-M +0.01% 30 -- Public Account data for December 2018 - Primary Deficit in 2018 -R$ 41.133 billion

- Nominal deficit in 2018 -R$ 68.042 billion - Brazil’s public debt for 2018 R$ 3.877 trillion - Current Account deficit -US$ 81.5 million - FDI US$ 88.314 billion in 2018

31 -- Central Bank announced 2018 fiscal deficit -R$ 108 billion31 -- IBGE PNAD unemployment 4th Q/2018 11.6%

February1 -- The 2018/2019 end of year recess for Congress ended

1 -- Trade Surplus for January US$ 2.192 billion 1 -- IBGE, December Industrial Growth +0.2% & 1.1% in 2018 1 -- Fenabrave auto sales in January 199,700

2 -- Election of presiding officers of Senate & Chamber Dep. Rodrigo Maia (DEM-RJ) & Sen. Davi Alcolumbre (DEM-AC)

3 -- El Salvador First Round election 4 -- Justice Minister Sérgio Moro released anti-crime legislative package 5 -- Foreign Minister Ernesto Araujo Washington; prepare for Bolsonaro visit 5 -- Self-proclaimed Venezuelan President Juan Guaidó appointed Maria Teresa Belandia as his ambassador to Brazil 5 -- Central Bank savings accounts negative -R$ 11.23 billion in January 5-6 -- First meeting of COPOM in 2019 Selic basic rate maintained at 6.5% 6 -- Lava Jato judge Gabriela Hardt convicted Lula – Sitio Santa Barbara in Atibaia, SP 7 -- Embraer sold 12 Super Tucano planes to Nigeria 8 -- FGV released January IGP-DI +0.7% 8 -- TFR-4 appointed Judge Bonat as permanent replacement for Sérgio Moro in Curitiba 8 -- Revealed that SRF is investigating possible fraud by STF Judge Gilmar Mendes & wife 8 -- IBGE: IPCA for January +0.32% 10 -- PT celebrated its 39th anniversary

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11 -- TV Band journalist Ricardo Boechat died in helicopter crash in SP 11 -- Shell & Mitsubishi to invest US$ 700 million in gas-fired 565 Mw power plant in RJ 12 -- Senate confirmed Roberto Campos Neto as Central Bank President 12 -- IPU-Inter Parliamentary Union ranked Brazil 133rd (out of 193) on “Women in Parliament” with 15% 13 -- 22 PCC leaders transferred to federal prisons 13 -- IBGE, Retail Sales in 2018 +2.3% YoY 13 -- Pres. Bolsonaro released from hospital in SP 14 -- IBGE, Services Sector in 2018 decline of -0.1% 15 -- FGV announced IGP-10 +1.4% 15 -- Eight Vale employees arrested (dam burst in Brumadinho 15 -- China applied a 32.4% tariff on Brazilian frozen chicken 15 -- Central Bank announced IBC-Br for December +0.21% MoM and +1.15 % in 2018 17 -- End of daylight savings time in Brazil two-hour difference between NYC and Brasília 18 -- Presidents’ Day – Holiday observed in the US 19 -- Federal Police Operation Fantoche 19 -- Former Planning Minister João Paulo Reis Velloso died age 87 19 -- Paulo Vieira de Souza (Paulo Preto) arrested in SP 19 -- Judge Gabriela Hardt sentenced MDB operator Angelo Lauria to 7 years & 9 months prison 19 -- Ford announced that it would close factory in São Bernardo do Campo, SP 20 -- SRF federal revenue collections in January, R$160.4 billion (-0.66% YoY) 21 -- Venezuelan President Maduro ordered border with Brazil closed (in Roraima) 21-23 – CNT/MDA poll conducted 22 -- 2019 Strategic Planning Meeting, Brazil-US Business Council met in Washington, DC 22 -- IBGE released PNAD unemployment data for 4th Q/2018 12.3% 23 -- Lava Jato Judge Gabriela Hardt ordered confiscation of Sítio Santa Barbara, Atibaia, SP 25 -- Index of Economic Freedom Heritage Foundation, Brazil ranked 150th - “mostly unfree” 27 -- FGV released its IGP-M +0.86% 27 -- Juan Guaidó visited Brasília (via Colombian Air Force plane) 27 -- Pres. Bolsonaro sacked former deputy Leonardo Quintão (MDB-MG), sub-chief for

Congressional Affairs at Casa Civil too close ties with mining sector

28 -- IBGE released GDP data for 2018 +1.1%4

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28 -- January Public Accounts - Current Account Deficit -US$ 6.548 billion

12-month accumulation -US$ 14.766 billion (0.78% of GDP) - Primary Surplus +R$ 46.897 billion - Nominal Result +R$ 26.044 billion - FDI US$ 5.866 billion - Overseas spending by Brazilians US$ 1.689 billion (-15.6% YoY)

- Foreign Tourist Spending in Brazil US$ 703 million (-9.8% YoY)

- Remittances – Profits & Dividends US$ 1.478 billion

March 1 -- Fenabrave, 189,850 auto units sold in February 1 -- Caged data for January 34,313 new jobs created 1 -- Trade Surplus for February 2018 US$ 3.673 billion (-15.8% YoY) 2 -- Curitiba Judge Carolina Lebbos authorized Lula fly to SP for his grandson’s funeral 4 -- Caged data new jobs created in January 4-5 -- Carnaval holiday 6 -- Ash Wednesday – holiday in the morning 6 -- Judge Luiz Antonio Bonat assumed 13th federal circuit in Curitiba (Lava Jato) 7 -- Central Bank – FX flow in February +US$ 8.626 billion 8 -- FGV released February IGP-DI +1.25% 8 -- International Women’s Day – 108th Anniversary 8 -- Central Bank announced savings accounts data (negative) for January -R$ 4.021 billion 10 -- US goes on daylight-savings time return to 1-hour time difference NYC/Brasília 10 -- El Salvador Second Round election 11 -- January INSS deficit -R$ 13.8 billion 12 -- Two suspects arrested in Rio murder of Marielle Franco 12 -- IBGE -- IPCA data for February +0.43% & 12-month accumulation at +3.89% 12 -- President of Paraguay, Mario Abdo Benítez, visited Brasília 13 -- IBGE January IP data, -0.8% MoM & -2.8% YoY 13 -- Chamber CCJ installed, began to analyze Social Security Reform proposal 13 -- Massacre by two students, public school in Suzano, SP

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13 -- IBGE announced retail sales in January +0.4% MoM & +1.9% YoY 15 -- FGV, IGP-10 +1.40% in March 15 -- ANAC held auction of 12 airports at SP stock exchange 15 -- IBGE released services sector data for January -0.3% MoM & +2.1% YoY17-19 -- Pres. Bolsonaro visited Washington, stayed at Blair House 18 -- Brasil & Mexico signed FTA (automobiles, parts & components) 18 -- Claro announced that it had acquired Nextel for US$ 905 million 18 -- HSBC announced that it was returning to Brazil 18 -- Central Bank released IBC-Br for January -0.41% MoM & +0.79% YoY 19 -- Thieves attacked truck convoy carrying enriched uranium to Angra II plant; Federal

Highway Police thwarted this attack19-20 – Copom meeting Selic rate remained at 6.5% 20 -- Federal Police indicted Lula & son Luis Claudio, money laundering & influence peddling 20 -- Ibope poll released 20 -- Government delivered Armed Forced pension plan proposal to Chamber 21 -- Former President Michel Temer arrested in SP 21 -- UNDP released 2019 HDI-Human Development Index – Brazil ranked 79th 21 -- Pres. Bolsonaro’s 64th birthday 21-23 -- Pres. Bolsonaro visited Chile, Unasul replaced by Prosul 22 -- SRF announced federal revenues in February R$ 276.265 billion (+5.36% YoY) 22 -- ANTAQ held auctions for 4 port terminals 25 -- Caged data 173,139 new jobs created in February 25 -- Pres. Temer released from jail in Rio 25 -- TFR-4 removed former Temer cabinet minister Carlos Marun from Itaipu 26 -- IBGE – IPCA-15 +0.45% 27 -- World Justice Project, Rule of Law Index Brazil declined, 55th

58th rank 28 -- FGV released March IGP-M +1.26% 28 -- Rumo won auction-concession for North-South railway R$ 2.719 billion 28 -- Former Pres. Temer indicted in Brasília, case of R$ 500.000,00 in suitcase 28 -- STN announced that the tax burden had increased 32.62% 33.58% in 2018 29 -- IBGE released PNAD unemployment data for Dec-Jan-Feb 12.4% QonQ

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29 -- Public Account data for February Current Account Deficit -US$ 1.134 billion FDI US$ 8.400 billion Primary Deficit -R$ 17.414 billion Nominal Deficit -R$ 18.969 billion FX flows in 2019 +US$4.185 billion Remittances & Dividends – US$ 1.672 billion Brazilian Tourist Spending – US$ 1.302 billion Foreign Tourist Spending in Brazil – US$ 541 million

31 -- Marked the 55th anniversary of the 1964 military coup31 March-3 April – Pres. Bolsonaro visited Israel April 1 -- Trade Surplus for March US$ 4.990 (-22.3% YoY)

3 -- Fenabrave auto sales, 209,100 units (+5.3% MoM & +0.8% YoY)

1st Q/2018, 699,700 units (+14.6% YoY) 2 -- IBGE, Industrial Production in February +0.7% Mom & +2.0% YoY3 -- WTO ranking of exporting nations, Brazil declined 26th 27th rank

4 -- Social Security deficit -R$ 4.229 billion in February 5 -- Pres. Bolsonaro sacked Education Minister Ricardo Vélez Rodriguez Abraham Bragança Vascolsellos Weintraub appointed to MEC 5 -- Savings Accounts data for March positive +R$ 1.853 billion 5 -- ANTAQ held concession auction for six port terminals in Pará 5 -- Petrobras announced that it had sold TAG to Engie & CDPQ (Canada) 5 -- XP/Ipespe released 5-7 -- Vice President Hamilton Mourão visited Boston, Harvard-MIT student event 8 -- FGV posted IGP-DI for March +1.07%

8-9 -- V-P Mourão visited Washington & special session at Woodrow Wilson Center 9 -- IBGE released March IPCA +0.75% versus +0.43% in February

12-month accumulation at +4.58% 9 -- IBGE: February retail sales -0.6% MoM & +3.9% YoY 10 -- Bolsonaro government completed 100 days 10 -- TRE-MT cassou Sen. Selma Arruda (PSL) and her two alternates

She remained in office on appeal to TSE 10 -- Pres. Bolsonaro + Foreign Affairs & Agriculture ministers organized a large dinner party

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with 37 Arab-Muslim ambassadors in Brasília 10 -- IBGE Industrial sector accounted for only 11.3% GDP, lowest since 1947 11 -- Federal Police launched Operation O Vento Levou 11 -- STF censored Antagonista & Crusoé – article identifying Judge Dias Toffoli as recipient

of Odebrecht bribe when he was Lula’s AGU Annulled by STF Judge Alexandre de Moraes on 18th April

12 -- NY Museum of Natural History canceled US-Brazil CofC event where Pres. Bolsonaro

was to receive “Personality of the Year” award on 14th May 12 -- ANTAQ determined privatization of Santos and Paranaguá port terminals on 9th August 12 -- IBGE Services sector in February, -0.4% MoM 15 -- Central Bank released its IBC-Br for February -0.73 % MoM & +0.5% YoY

FGV said -0.4% 15 -- FGV posted IGP-10 +1.00% 17 -- Petrobras announced that it would sell one-half of its refineries 18 -- World Press Freedom Index; Brazil declined 3 ranks, 102nd 105th (180 nations) 18 -- STF President Judge Dias Toffoli issued injunction permit FSP interview with Lula 18 -- IMF report, Brazil declined as participant in world GDP, 4.4% in 1980 2.5% in 2018 19 -- Good Friday – National Holiday in Brazil 19-21 -- Spring Meetings of IMF and World Bank Group, Washington, DC

21 – Tiradentes National Holiday [Martyr of Independence] 21 -- Easter Sunday 22 -- Easter Monday – Holiday in Canada 22 -- Earth Day 23 -- STJ rejected all appeals by Lula’s lawyers for his release 23 -- Municipal holiday in Rio de Janeiro São Jorge

23 -- 2019 Brazil Summit, Brazilian-American Chamber of Commerce, New York, NY

24 -- SRF, March tax collections R$ 109.854 billion (-5.24% MoM & -0.58% YoY) 24 -- Chamber CCJ approved the constitutionality Social Security Reform (after 62 days) 24 -- CNI/Ibope poll released

24 -- Caged data, 43,196 jobs created in March & 179,543 jobs created in 1st Q/201925 -- IBGE – IPCA-15 +0.72%

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25 -- Pres. Bolsonaro signed decree ending daylight savings time in Brazil 25 -- Pres. Bolsonaro vetoed BB TV commercial stressing “diversity” 26 -- Pres. Bolsonaro appointed new TSE judge Sérgio Silveira Banhos 26 -- FSP & El Pais conducted interview with Lula at Curitiba Federal Police lockup 27 -- IBGE PNAD 1st Q/2019 12.7% unemployed & 25.0% underemployed 29 -- Federal judge in Brasília accepted fifth anti corruption case against ex-President Temer 29 -- FGV released April IGP-M +0.92% 30 -- Diário Oficial published names to receive the Ordem de Rio Branco condecoration

List included V-P Hamilton Mourão and Guru (philosopher) Olavo de Carvalho 30 -- Pres. Bolsonaro signed MP da Liberdade Econômica – “Get the State off my Back” With assistance from World Bank staff – Doing Business 30 -- Public Account data for March

Current Account Deficit -US$ 494 million FDI US$ 6.846 billion Primary Deficit -R$ 18.629 billion Nominal Deficit, -R$ 61.275 billion FDI US$ 6.846 billion Profits & Remittances US$2.162 billion (-29% MoM) Brazilian Tourist Spending Abroad US$ 758 million (-

22.7% MoM)- 1st Q/2019, US$ billion (+ % YoY)

May 1 -- Labor Day [National Holiday] 1 -- Petrobras concluded sale of Pasadena refinery in Houston, TX 2 -- PRB-Partido Republicano Brasileiro to change its name to “Republicanos”

2 -- Trade Surplus for April US$ “6.601 billion (+2.3% YoY)2 -- FGV released ICP-S for April +0.63% 2 -- Abras supermarket sales in May -1.46% MoM

2 -- Fenabrave 231,900 auto units sold in April, +10.9% MoM & +6.7% YoY

3 -- IBGE Industrial Production -1.3% MoM in March and -4.6% YoY3 -- Social Security April deficit -R$ 13.6 billion

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3 -- Pres. Bolsonaro canceled his trip to NYC to receive “Personality of the Year Award”5 -- Panama General Elections6 -- Bradesco purchased BAC Florida Bank for US$ 500 million

6-10 -- Brazilian Week in NYC7 -- Central Bank Savings Accounts negative in April, -R$2.877 billion7 -- BNDES announced the return of R$ 30 billion to STN8 -- Federal Police conducted Operation Disfarces de Mamom

8 -- FGV: April IGP-DI +0.90% 7-8 -- Copom meeting maintained Selic basic rate at 6.5% 9 -- Ex-President Temer arrested again; courts froze R$ 32.6 million of his assets 9 -- Civil police 9 states Operation Crédito Viciado against BB corruption scheme 9 -- On a 7-to-4 vote, STF validated presidential pardon issued by Pres. Temer December 2017 9 -- The 48th Annual Washington Conference on the Americas, Council of the Americas 10 -- XP/Ipespe poll released 10 -- Venezuela opened border with Brazil (in Roraima) 10 -- IBGE posted IPCA for April +0.37% % versus +0.75% in March 10 -- IBGE, retail sales for March, +0.3% MoM & +4.5% YoY, 1st

Q/2019 (+0.2% QonQ) 12 -- Pres. Bolsonaro announced personal income tax brackets would be adjusted 13 -- TJ-RJ broke bank account secrecy for Sen. Flávio Bolsonaro 13 -- Americas Society organized event with 3 newly-elected women federal deputies 13 – Brazilian Abolition Day (slaves were freed in 1888) – not honored by Afro-Brazilians 14 -- IBGE, Services Sector data for March -0.7% MoM & -2.3% YoY 14 -- Pres. Bolsonaro was to receive “Personality of the Year” Award, Brazil-US CofC in NYC But this event was canceled14-16 -- Pres. Bolsonaro in Dallas, TX, “Personality of the Year” award from US-Brazil CofC 15 -- Massive street protest demonstrations in favor of federal universities 15 -- Central Bank, IBC-Br for March -0.29% MoM & -0.68% 1st

Q/2019 16 -- V-Pres. Hamilton Mourão began trip to China 16 -- IGP-10 +0.70%, versus +1.00% in April 16 -- TFR-4 conformed conviction José Dirceu; back to jail on 17th May (with Eduardo Cunha)

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17 -- FGV released 1st Q/2019 GDP estimate -0.1% QonQ (better than IBC-Br) 17 -- IBGE-PNAD Jan-Feb-March unemployment, 12.7% unemployed 21 -- FGV income inequality in 20172018; Gini Index 0.6257 21 -- Atlas Político poll released 22 -- Chamber approved administrative reform (MP 870) on 228-to-210 vote Reduced a=cabinet ministries from 29 to 22 22 -- Chamber CCJ approved constitutionality of tax reform proposal 22 -- Italy confirmed life sentence for terrorist Cesare Battisti 22 -- Congress approved MP 863, allow 100% ownership of Brazilian airlines 23 -- CAOA met with SP Gov., Finance Sec. & Economy Minister; acquisition of Ford factory 23 -- SRF tax collections of R$ 139.030 billion in April, +1.28% YoY 24 -- IBGE released IPCA-15 +0.35% 24 -- ANAC suspended bankrupt Avianca Brasil airline 24 -- Caged data 129,600 new jobs created in April24-27 -- 37th LASA Congress in Boston 26 -- Pro-Bolsonaro street demonstrations organized in 126 cities26-27 – Prison massacres in Manaus, 56 prisoners dead 27 -- Memorial Day observed [holiday in the US] 27 -- STF Judge Edson Fachin, injunction against sale Petrobras TAG and refineries 28 -- Central Bank 5 Brazilian banks concentrated 84.8% of credit market in 2018 28 -- Federal Police Operation Cambio Desligo against Bradesco bank managers 28 -- Federal judge in SP blocked (froze) R$ 128 million of Dep. Aécio Neves’ assets 28 -- STF Judge Carmen Lúcia, injunction annulling TRT decision, labor union contributions 30 -- IBGE released data for 1st Q/2019 GDP -0.2% 30 -- Former US President Barack Obama in SP, spoke at SP Expo 30 -- Central Bank announced public account data for April:

- Current Account Deficit -US$ 62 million; - Primary Surplus +R$ 6.6 billion; - Nominal Deficit -R$ 28.048 billion- FDI US$ 6.067 billion

31 -- Braskem, leniency agreement with CGU & AGU, R$ 1.54 billion thru 2025 31 -- IGP-M for May +0.45 % versus +0.92% in April

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June

3 -- Trade Surplus for May US$ 6.422 billion (+5.8% YoY) 3 -- Fenabrave – auto sales 345,400 units in May, +5.8%% MoM & +21.6% YoY 3 -- Senate approved MP 871 anti-fraud at INSS 3 -- FGV released IPC-S +0.22% 4 -- Dutch group LyondellBasell decided not to acquire Braskem 5 -- Ex-Gov. Beto Richa (PSDB-PR) accused for a third time 5 -- Swedish supermarket chain, Paradiset, boycotted Brazilian goods excess agrotoxicos 5 -- ANTT published tender for auction/concession of BR-364 & BR-365 5 -- Congress approved obligatory budget execution 5-6 – STF deliberated whether sale of state enterprises needed approval by Congress 6 -- Savings Accounts negative result in May -R$ 718.7 million 6 -- Senate CCJ approved proposal to prohibit individual injunctions issued by STF judges 6 -- IBGE released IP data for April +0.3% MoM & -2.7% YoY 6 -- CSN announced that it would invest R$ 1.5 billion to build new steel plant in SP 6-8 – Pres. Bolsonaro on state visit to Argentina 7 -- FGV announced IGP-DI for May, +0.40% versus +0.90% in April 7 -- The PR-Partido Republicano decided to change its name back to the PL-Partido Liberal 7 -- IBGE announced May IPCA +0.13%; 12-month accumulation at +4.25% 9 -- The Intercept Brasil released 1st barrage of illegal (hacked) Lava Jato phone conversations 11 -- Congress approved R$248.9 billion budget supplement authorization 11 -- CADE approved the sale of four Petrobras refineries

12 -- IBGE, April retail sales data -0.6% MoM & +1.7% YoY 12 -- St. Anthony’s Day – St. Valentine’s Day in Brazil 12 -- Senate CCJ rejected Bolsonaro’s firearms decrees by a 15-to-9 vote 13 -- Petrobras sold its TAG gas pipelines to Engie & Canadian CACD, R$ 33.5 billion 13 – IBGE – April Services Sector +0.3% MoM & -0.7% YoY 13 – ANP announced mega-auction of 4 exploration pre-salt sites for 6th

November 13 -- STF decided that homophobia was equivalent to racism by 8 –to-3 vote 13 -- Pres. Bolsonaro ousted Gen. Santos Cruz from Secretariat for Government

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13 -- STF rejected Bolsonaro’s decree abolishing administrative councils created by Congress 13 -- Dep. Samuel Moreira (PSDB-SP) presented his report on Social Security Reform at the

Chamber Special Committee 14 -- Central Bank IBC-Br for April, -0.47% MoM & -0.62% YoY 14 -- Noted Brazilian journalist Clovis Rossi dead at age 76 16 -- Guatemala First Round Election 17 -- BNDES President Joaquim Levy resigned

Economy Minister appointed Gustavo Montezano 17 – Odebrecht requested judicial supervised bankruptcy R$83.627 billion

18 -- Former President FH Cardoso celebrated 88th birthday 18 -- ANPR held election of three-name list of new PGR 18 -- Senate suspended both Bolsonaro firearms decrees on 47-to-28 vote 18 -- Pres. Bolsonaro broke practice (since 1985) and did not appoint the 1st name on the list

for Rector of the UFMT submitted by the University Council (a “leftist” name) 18 -- Lava Jato judge Luiz Bonat accepted MPF request and froze R$ 97.93 million Lula assets 19 -- TRF-4 confirmed corruption conviction of Aldemir Bendine 19 -- IBGE released study very low levels of educational achievement in Brazil 19 -- Justice Minister Sérgio Moro testified at Senate regarding The Intercept Brazil illegal

(hacked) phone conversations by Lava Jato task force. 19 -- Gen. Juarez Cunha resigned as ECT (Post Office) Director

Gen. Floriano Peixoto appointed ECT Director on 21st June18-19 -- Copom Meeting Selic basic interest rate maintained at 6.5% 20 -- Corpus Christi national holiday 20 -- Embraer signed contract with KLM for 15 E-195 E2 passenger planes (Paris Air Shoe) 20 -- Walmart fined US$ 283 million by FCPA; bribes paid in Brazil, Mexico, China & India 21 -- Sexta-feira “enforcada”, informal holiday in Brazil 21 -- PRG requested STF to annul STJ injunction to allow Braskem to distribute dividends 25 -- IBGE released IPCA-15 +0.06% 24 -- PGR requested immediate ouster of TCU minister Aroldo Cedraz, influence pedaling 24 -- Curitiba judge froze R$ 150 million in assets of OAS executives 24 -- STF vetoed “vacation trip” by convicted Senator Acir Gurgacz (PDT-RO)

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25 -- IBGE released IPCA-15 +0.06% 25 -- Federal prosecutors leniency agreement with Technip, R$ 1.1 billion 25 -- Bombardier sold its CRJ regional jet unit to MHI-Mitsubishi of US$ 550 million 25 -- Control Risks survey Brazil number two in anti-corruption in Latin America 26 -- Central Bank – FX flows positive i +US$ 3.507 billion (as of 21st June) 26 -- PGR requested conviction of PT National President Dep. Gleisi Hoffmann, her husband

Paulo Bernardo & business man Ernesto Kruger – corruption & money laundering 27 -- SRF, May tax revenues R$ 113.278 billion, +1.92% YoY 26 -- Senate approved “Abuse of Authority Law” prosecutors & judges 27 -- Caged 32,140 new jobs created in May 27 -- SP state prosecutors requested that R$ 5.4 billion assets of former PSDB governors Geraldo

Alckmin & Alberto Goldman plus 28 other SP authorities be frozen 27 -- Federal Police Operation Pedágio, arrested current & former DNIT presidents 27 -- New CNI/Ibope poll released 27 -- Economy Minister Paulo Guedes - Central Bank “might” reduce compulsory deposit rate 27 -- Federal Police arrested 3 PSL-MG militants – election crimes 27 -- FAB sergeant (part of Presidential backup team) arrested in Seville, Spain, 39 Kg cocaine 27 -- FGV posted June IGP-M +0.80% versus +0.85% in May; +6.52% in 12 months 28 -- EU & Mercosur signed Free Trade Agreement in Brussels 28 -- Petrobras began sale process for 4 refineries 28 -- CNJ proposed the creation of the TRF-6 (a new regional federal court in B. HOrizonte 28 -- Brazil-US Business Council, Mid-Year meeting, Washington, DC 28 -- IMD – 2018 World Competitiveness Ranking in 63 nations, Brazil ranked 59th 28 -- IBGE PNAD unemployment March-April-May at 13.0 million unemployed (12.3%) 28 -- Draft Mercosul-EU FTA signed in Brussels 28 -- Public Account data for May

Current Account Surplus, +US$ 662 million Primary Deficit, -R$ 13.008 billion Nominal Deficit, -R$ 47.588 billion FDI US$ 7.070 billion

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28-30 – G-20 met in Osaka, Japan – Pres. Bolsonaro attended30 -- Demonstration marches in 86 cities in favor of Sérgio Moro, Lava Jato and the Social

Security Reform

July1 -- Canada Day 151 years of independence1 -- 25th Anniversary of the Real Plan1 -- Beto Richa (PSDB-PR)once again accused of corruption1 -- Trade Surplus June US$ 5.019 billion & 1st sem. US$ 27.130 billion (-9% YoY)2 -- Senate CPI ordered indictment of 14 Vale employees (the

Brumadinho tragedy) 2 -- IBGE – May Industrial Production declined -0.2% MoM & -0.7%

YoY2 -- Fenabrave auto sales in June, 234,000 units & 1.3 million 1st

Semester (+8.3% YoY)4 -- US Independence Day [national holiday]

Pres. Bolsonaro attended US Embassy reception in Brasília4 -- Anfavea – auto production in June 233,100 units (-9% YoY), 1.47

million units 1st sem.4 – Savings Accounts +R$ 2.497 billion (net) in June, but -R$ 14.499

billion in 1st Sem.7 -- Datafolha poll released7 -- Italian PM Matteo Salvini voiced support for Eduardo Bolsonaro as

Ambassador to US8 -- FGV --- IGP-DI for June +0.63% MoM vs. +0.40% in May &

+6.04% 12-months 9 – State Holiday in São Paulo – [“Commemorate” defeat in the 1932 Revolution] 9 -- Argentine Independence Day 10-14 -- 16th FLIP International Literary Festival in Paraty, RJ 10 -- Chamber approved Social Security Reform PEC; 379-to-131 on first round vote 10 -- IBGE released IPCA data for June +0.01% 11 -- Embraer announced sale of ten KC-390 cargo planes to Portugal 11 -- Pres. Bolsonaro – “I might just appoint my son as Ambassador to Washington” 11 -- IBGE – Retail sales in May -0.1%% MoM but +1.0% YoY 12 -- IBGE Services Sector “stable” in May & +4.8% YoY 14 -- Bastille Day – National Holiday in France 15 – Brazil’s only NASA astronaut, S&T Minister Marcos Pontes participated in the 50th

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anniversary of the Apollo 11 moon landing – at Cape Kennedy 15 -- Central Bank released its IBC-Br for May +0.54% MoM & +3.06% YoY 16 -- STF Pres. Dias Toffoli issued injunction baring all financial intelligence data in

investigations without a judicial order 16 – FGV announced its IGP-10 +0.61% versus +0.49% in May 17 -- PDT suspended 8 “rebel” deputies who voted in favor of the Social Security Reform PEC 17 – ANTT announced privatization concession auction for BR-262 & BR-381 highways 23 -- IGBE released its IPCA-15 +0.9%; 1st semester accumulation +2.42% 22 -- Petrobras refused to refuel two Iranian cargo ships in Paranaguá port 23 -- Petrobras sold 30% of the shares in BR Distribuidora 23 -- SRF announced federal tax revenues for June R$ 119 billion (+8.20% YoY) 23 – IMF reduced its prediction for Brazil’s 2019 GDP, +2.1% +0.80% 23 -- Federal Police arrested hackers of Lava Jato team cell phones The Intercept Brasil 24 -- Cornell U., Insead & Wipo Global Innovation Index, Brazil 66th out of 129 nations 25 -- Caged data for June 48,436 jobs created 25-26 -- Eleventh BRICS Summit met in Rio de Janeiro 29 -- Foro de São Paulo met in Caracas, Venezuela 30 -- June public accounts

Current Account Deficit -US$ 2.914 billion Primary Deficit -R$ 12.706 billion Nominal Deficit -R$ 30.102 billion FDI +US$ 2.190 billion

Tourist spending US$ 1.524 billion (+2.5 % YoY) Foreign Tourist Spending in Brazil US$ 374 million Profit Remmitances & Dividends US$ 2.929 billion Public Debt R$ 4.397 trillion (+2.24% MoM)

30 -- FGV announced July IGP-M +0.40 % versus +0.80% in June 31 -- IBGE, PNAD unemployment at 12.0% in 2nd Q/2019 vs. 12.7% in 1st Q/2019 31 -- Congressional Recess ends [“officially”]31 July-1 August -- Copom meeting Selic basic rate reduced +6.5% 6.0%

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August1 – Congress begins 2nd semester sessions 1 – Executive Branch transmited detailed 2020 Budget (LOA) to Congress1 – July trade balance US$ 2.293 billion 1 -- July Auto Sales 243,640 units, +12.1%% MoM

1 -- IBGE - Industrial Production in June -0.6% MoM & -5.9% YoY

6 -- Savings accounts – Central Bank, July negative result -R$ 1.605 billion6 -- STF denied extradition of Turkish dissident Ali Sipahi, requested by Turkey6 -- Federal Police Operation Cravada against financial operations by the PCC6 -- Federal Police Operation Rota BR-090 against highway contract fraud in MG6 -- Chamber approved Social Security PEC, 2nd round vote by 370-to-1247 – Raízen & Femsa Comércio completed a merger7 – Softbank invested R$ 70 million in Volanty7 -- Antonio Palocci plea bargain against Lula and Dilma

7 -- STF vetoed the transfer of Lula to a prison in SP 7 – Embraer sold 7 model E175 planes to Skywest (Delta subsidiary) for US$ 340 million 8 – Petrobras sold its share in BBB to Galp Bioenergy BV 8 – FGV announced its IGP-DI for July -0.01% versus +0.63% in June

8 -- US granted agreement for Eduardo Bolsonaro (to become Brazil’s ambassador in the US)

9 -- IBGE announced July IPCA +0.19% versus +0..1% in June 9 -- PSB “lost” dissident Sen. Jorge Kajuru (GO)

7 -- IBGE released June retail sales data +0.1% MoM 9 -- IBGE June, Services Sector data -0.1 % MoM but +12.1% YoY 9 -- Huawei construction of new factory in SP, US$ 800 million investment 9 -- XPi released new Ipespe poll 11 -- Pres. Mauício Macri “lost” Argentine primary elections 12 -- Central Bank released June IBC-Br +0.30% MoM & -0.13% in 2nd Q/2019 13 -- PSL expelled Dep. Alexandre Frota (SP) 13 -- ANTAQ auctioned three concessions of port facilities – Paranaguá & Santos 14 -- Congress approved “Abuse of Authority” Law

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14 -- FGV-Rio study found increased income inequality over 17 quarters since 2014 14 -- Pres. Bolsonaro ordered the PRF to suspend the use of hand-held radar speed detectors 15 -- Massive anti-crime investigation in nine states 15 -- Norway & Germany suspended financing for the Fundo Amazônia 15 -- STF Judge Gilmar Mendes issued injunction against investigation of Sérgio Cabral 20 -- Chamber vetoed Bolsonaro’s MP that allocated R$ 3.5 billion for privatization Eletrobras 21 -- Bolsonaro government announced list of 17 state enterprises to be privatized 21 -- Operation Carbonara Chimica against Odebrecht (bribes for PT Finance Ministers) 21 -- Pres. Bolsonaro accused “discontent” NGOs of setting Amazon forest fires 21 -- Chamber Foreign Relations Committee approved agreement for US use of Brazil’s

Rocket launching base in Alcântara, MA 21 -- Senate approved the “Economic Freedom” MP 22 -- Operation Tritão against fraud in the Port of Santos 22 -- IBGE released IPCA-15 inflation data +0.08% 22 -- 43rd anniversary of tragic auto crash on Dutra highway that killed JK

23 -- Caged data for July 43,820 new jobs created 23 -- Pres. Bolsonaro appointed new councilors to CADE 23 -- Operation Pentiti against ex-Petrobras Pres. Graça Foster & BTG Pres. André Esteves

23 -- Federal Revenues in July R$ 137.735 billion (+2.95% YoY)25-27 -- G-7 45th Summit met in Biarritz, France

Nasty conflict French President Macron versus Brazilian President Bolsonaro 27 -- New CNT/MDA poll 27 -- Sen. Tasso Jereissati (PSDB-CE) read his report on the Social Security PEC at the CCJ 27 -- IBGE – Industrial Production 1st Semester 2019 -1.6% 27 -- STF released ex-BB and Petrobras President Aldemir Bendine who had been convicted by

Lava Jato Judge Sérgio Moro in 2018 and confirmed by the TRF-4 and the STJ 28 -- Lula’s lawyers asked the STF to annul his two Lava Jato convictions 28 -- IBGE 2019 census Brazil’s population up by +0.79% YoY to 201.1 million

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28 -- Amnesty – 40 years – Congress marked general amnesty it approved on 28th August 1979 28 -- US Sec. of State Mike Pompeo sent letter to OECD supporting Romania & Argentina

29 -- Operation Mercúrio by civil police in ten states against armed robbery of trucks 29 -- IBGE announced Brazil’s 2nd Q/GDP +0.4% 29 -- FGV announced August IGP-M data deflation of -0.67% 30 -- IBGE, PNAD unemployment data, May June-July 11.8% 29 -- IBGE announced Brazil’s 2nd Q/GDP +0.4% 30 -- July public accounts

Current Account Deficit -US$ 9.035 billion Primary Deficit -R$ 2.763 billion Nominal Deficit -R$ 30.263 billion

FDI US$ 7.658 billion Brazilian tourists spending US$ 1.898 billion (+.9.6% YoY)

September 1 -- Former Deputy & SP Governor Alberto Goldman dead at age 81 2 -- Trade Surplus for August US$ 3.284 billion (-8.5% YoY) 2 -- New Datafolha poll 2 -- New ethanol deal signed with US 2 -- Reportedly, CAOA acquired closed Ford auto factory in São Bernardo do Campo, SP But, to no avail.

2 -- Labor Day (National Holiday in US) 3 -- Garotinho couple arrested (again) in Rio 3 -- Auto sales in August units, % MoM & % YoY 3 -- Supermarket sales (Abras) in July % MoM & % YoY 3 -- IBGE announced July industrial production -0.3% MoM & -2.5% YoY 4 -- STF habeas corpus released Garotinho couple in Rio 4 -- STF Judge Gilmar Mendes transferred Guido Mantega’s case from Curitiba to Brasília 4 -- Senate CCJ approved Social Security PEC & the “parallel PEC” (for states & municípios) 4 -- FSP published two-page interview with Pres. Bolsonaro 4 -- Pres. Bolsonaro attacked Michelle Bracelet (UN Human Rights Commissioner) 5 -- Michelle Bracelet returned Bolsonaro’s attack 5 -- Central Bank, positive savings accounts results in August +R$ 1.316 billion

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5 -- Pres. Bolsonaro vetoed 19 articles in the “Abuse of Authority” Law 5 -- Pres. Bolsonaro appointed new PGR – Antonio Augusto Brandão Aras

5 -- August auto production, 269,809 units -7.3% YoY 36,717 units exported (-34.6% YoY)

5-6 -- XXII CAF Conference, Mayflower Hotel, Washington, DC 6 -- IBGE IPCA, +0.11%, 12-month accumulation, +3.43% 6 -- Lava Jato Judge Marcelo Bretas (Rio) ordered arrest of Indio da Costa (Postalis corruption)

6 -- Former PT Treasurer João Vaccari Neto released from jail in Curitiba.

7 – Independence Day [National Holiday, Brazil] 8-12 – International Trade Administration, ASIS 2019, Australia 9 -- FGV posted August IGP-DI -0.51 %, accumulated +4.32% in 12 months 10 – Carlos Bolsonaro blasted democracy as “unable to make changes at the velocity we want” 10 -- ANP auction for 87 petrol exploration blocks; 45 blocks were acquired (R$ 22.3 million) 10 -- Federal Judge in Pará ordered miners & timber firms to leave Xikrin Indian reservation 11 -- Science & Technology Minister Marcos Pontes hospitalized in Brasília 11 -- Brazil dropped from 64th to 66th rank on survey of levels of innovation 11 -- SRF Chief Marcos Cintra was sacked 11 -- STJ approved the creation of the TRF-6 in Belo Horizonte 11 -- Operation Galeria arrested Marcio Lobão, son of former Sen. Edison Lobão (MDB-MA) 11 -- IBGE - Retail Sales in July +1.0% MoM and +4.3% YoY 12 – Operation Galeria – R$ 50 million in bribes (Belo Monte) to Edison Lobão and son Márcio 12 – Lula & brother Frei Chico accused of taking bribes from Odebrecht 12 – Marcelo Odebrecht released from house arrest in SP 12 -- IBGE – Services Sector in July +0.8% MoM & +1.8% YoY 12 -- Marcelo Odebrecht released from house arrest 13 -- US plans to create a US$ 100 million Amazon Fund 13 -- Amazon region governors met with German & Norwegian amb. – re Fundo Amazonia

13 -- Central Bank July IBC-Br -0.13% MoM & +1.31% YoY13 -- US will create a US$ 100 million Amazon Fund13 – Amazon region governors met with EU ambassadors in Brasília

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16 – Pres. Bolsonaro reassumed the presidency after surgery in SP to correct hernia 17 -- Senate rejected Chamber election rules package 18 -- Chamber approved parts of the election package vetoed by the Senate 17 -- Pres. Bolsonaro issued MP – men who injure women must reimburse SUS hospital bills 17 -- “Keep and Bear Arms” –Bolsonaro sanctioned law, farmers can keep and bear arms17-18 – Copom meeting, reduced the Selic rate 6.0% 5.5% 18 – Augusto Aras became the new PGR 18 – Austrian parliament vetoed the EU-Mercosul FTA 18 – FGV-IBRE GDP monitor for July -0.2% MoM, BUT May-June-July was +0.5% YoY 18 – Pres. Bolsonaro Mauricio Valeixo will continue as Federal Police Director 19 – Operation Desintegração, authorized by STF Sen. Fernando Bezerra Coelho (MDB-PE)

19 – State Holiday in Rio Grande do Sul [Farroupilha Day] 20 – Pres. Bolsonaro signed the Ëconomic Freedom” Law 20 – 230 institutional investors (US$ 16.2 trillion) urged their clients to act against deforestation 20 – Economy Minister Paulo Guedes appointed José Barroso Tostes Neto to be new SRF chief 25 -- SRF announced tax collections in August R$ 119.951 billion, +5.67% YoY 20 – Sen. Omar Aziz (PSD-AM) indicted by Federal Police R$ 200 million in corruption23-26 – Pres. Bolsonaro NYC, opening of session of the UN General Assembly 24 – Former Pres. Michel Temer celebrated his 79th birthday 24 – Pres. Bolsonaro delivered the opening keynote speech at the UN General Assembly 24 -- IBGE posted IPCA-15 +0.09% 24 – Operation Plantão in Rio against judge Siro Darlan 25 --Caged data for August 121,387 new jobs created 25 – Operation Satelites against R$ 50 million corruption in PI state government 25 – New CNI/Ibope poll 26 – Congress approved PEC 98/2019 – permit auction of pre-salt blocks in November 26 – Delta acquired 20% of LATAM 26 – STF ruled that defense lawyers must have last word against plea bargain accusations

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26 – Federal Police operation against former TO Governor Marcelo Miranda & family 27 -- FGV posted September IGP-M +0.01% 27 -- IBGE released PNAD for June-July-August Unemployment at 11.8% 27 – Eike Batista convicted again, stock market manipulation 30 -- Public Accounts data for August

Current Account deficit, -US$ 4.274 billion FDI US$ 9.470 billion Primary Deficit, -R$ 13.448 billion Nominal Deficit, -R$ 55.544 billion Overseas spending, Brazilian tourists US$ 1.309 billion

(-5.3% YoY) Remittances & Dividends US$ 3.433 billion

Public Debt R$ 4.074 trillion

October 1 -- Trade Balance for September US$ 2.266 billion (-55.7% YoY) 1 -- Senate approved Social Security Reform PEC on 1st round vote 1 -- Pres. Bolsonaro sacked INCRA president Gen. João Carlos Jesus Correa 1 -- Operation Carne Fraca – Romanos 2 -- IBGE – August Industrial Production increased by +0.8%MoM 2 -- Operation Armandeira in Rio against an extortion scheme at the SRF 2 -- Auto sales in September, 336,991 units sold (+12.48% YoY) 3 -- Giant oil leaks began polluting beaches in the Northeast 3 -- Social Progress Index - Brazil ranked 49th down from 44th in 2014 3 -- Operation Estrela Cadente against BTG & Copom (insider info, 2010-2012) 3 -- Federal Police indicted Tourism Minister Dep. Alvaro Antonio (PSL-MG) – laranjas 4 -- Central Bank September positive results R$ 8.725 billion 7 -- OESP survey 27 Senators negative on confirmation of Eduardo Bolsonaro as Ambassador 7 -- Anfavea – September auto production 247.300 units (-8.3% YoY) 9 -- IBGE, September IPCA -0.04% deflation; 12-month accumulation at +2.89% 8 -- Pres. Bolsonaro criticized “his” PSL and its President Dep. Luciano Bivar (PE)

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8 -- WEF Global Competitiveness Report; Brazil 71st rank among 141 nations 8 -- FGV released IGP-DI for September +0.50% versus -0.51% in August 9 -- Congress approved the 2020 LDO 9 -- World Bank study “Improving Public Sector Performance” published 10 – ANP held 16th auction for blocks in the Campos and Santos basins R$ 8.915 billion 10 -- Government announced duty free limit for purchases at airports US$ 500US$1,000 10 -- Bloomberg News revealed that US had nixed Brazil’s membership in the OECD 10 -- 40,000 judges & prosecutors asked STF to revoke several articles Abuse of Authority Law 11 -- Maria Moors Cabot prize ceremony, Columbia University, New York, NY 11 -- IBGE: August retail sales +0.1% MoM 11-12 – CPAC-Conservative Political Action Conference met in SP 12 – National Religious Holiday [Our Lady of Aparecida, Brazil’s national saint] 12 -- Day of the Race [Holiday in Mexico] 13 -- XP released new poll – Bolsonaro 33% approval rating 14 -- Federal Police accused Jaraguá Equipamentos of making R$ 5.8 million bribe Petrobras 14 -- Columbus Day [observed in US] – federal holiday 14 -- Thanksgiving Holiday in Canada 15 -- Seven deputies announced exit from the PDT & PSB. Pending approval by TSE 15 – Pres. Bolsonaro announced 13th month stipend for Bolsa Família recipients 15 -- Operation Guinhal search-and-seize against Dep. Luciano Bivar in Recife 16 -- IBGE released data for Services Sector in August -0.2% MoM & -1.4% 12 months 14 -- Central Bank released its IBC-Br for August +0.07% MoM & +0.73% YoY 17 -- FGV posted IGP-10 0.77% versus -0.29 % in September 17 – US appointed Thomas Chapman Ambassador to Brazil, pending Senate confirmation 17 – Pres. Bolsonaro replaced Dep. Joice Hasselmann (PSL-SP) with Dep. Eduardo Gomes

(MDB-GO) as government floor leader in Congress 17 -- Labor Ministry, Caged September data, 157,213 new jobs created

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18 – PSL National Executive Committee suspended five federal deputies 18-20 -- Fall meetings of IMF & World Bank Group – Washington, DC 20 – Veja published FSB poll 20 – Bolivian President Evo Morales reelected on first round vote 21 – Operation Grand Bazaar against Dep. Sérgio Souza (MDB-GO) 22 -- IBGE released its IPCA-15 +0.09%; 12-month accumulation +2.72% 22 -- SRF federal tax collections R$ 113.933 billion in September (+0.06% YoY) 22 -- STF convicted Geddel & Lúcio Vieira Lima of corruption 22 -- Senate approved Social Security Reform PEC on 2nd round vote 22 -- AL-RJ voted to release 5 state deputies from prison, but will not assume their mandates 22 -- Pres. Bolsonaro attended the enthronement of Japanese emperor Naruhito in Tokyo 23 -- Pres. Bolsonaro met with Japanese PM Shinzo Abe in Tokyo 23 -- Congress approved Alcântara Agreement with the US 23 -- Bruno Covas, SP Mayor, hospitalized – doctors discovered cancer 23 -- Operation Tango & Cash against Italo-Argentine firm Technit;; R$ 12 million bribes 24 -- World Bank published “Doing Business”, Brazil down 11 ranks to 124th (190 nations) 24-26 -- Pres. Bolsonaro visited Peking, China 25 – Rei Arthur – Arthur Cesar de Menezes Soares Filho – was arrested by the FBI in Miami 26 -- Pres. Bolsonaro met with Chinese President Xi Jinping 26-27 -- Pres. Bolsonaro visited United Arab Emirates 27 -- Former President Lula 74rd birthday 27 -- Uruguay -- First Round election 2nd round election on 24th

November 27 -- Argentina First round election – Fernández-Kirchner slate elected with 48% 28 -- Public Servants’ Day – Optional Brazilian federal holiday 28 – Pres. Bolsonaro visited Qatar 28-30 – Pres. Bolsonaro visited Saudi Arabia 29 -- Garotinho couple arrested (yet again) in Rio 29 -- Chamber special committee reported out the Armed Forces Social Security reform 29 – Jornal Nacional broke story re gatekeeper’s testimony at Bolsonaro’s Rio condominium 29-30 -- Copom meeting, Selic basic rate reduced 5.5% 5.0% 30 -- Ex-Deputy Nelson Meurer (PP-PR) arrested, goes to jail 30 -- Petrobras announced plans for privatization of four refineries

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30 -- Lava Jato accused ex-Dep. Marco Maia (PT-RS) of receiving R$ 1.2 million bribe 30 -- FGV to post October IGP-M +0.68% versus -0.01%% in September 30 -- Abras, supermarket sales increased by +1.87% in September 2019 30 -- IBGE PNAD 3rd Q/2019 11.8% unemployed; down from 11.9% in 2nd Q/2019 30 -- Dep. Eduardo Bolsonaro mentioned AI-5 as possible remedy for disturbances in Brazil 30 – Novo political party suspended Environment Minister Ricardo Salles 30 – Chile canceled 2 international events COP25 & Libertadores soccer playoff game 31 -- Halloween 31 -- STF Judge Gilmar Mendes issued habeas corpus that released Garotinho couple in Rio 31 -- IBGE, September Industrial Production +0.3 % MoM 31 – Fiat-Chrysler/PSA merger announced 31 -- Public Account data for September

Current Account -US$ 3.487 billion Primary Deficit -R$ 20.541 billion Nominal Deficit -R$ 451.458 billion FDI US$ 6.306 billion Brazilian Tourists spent US$ 1.330 billion (+11.85% YoY) Foreign Tourist Spending in Brazil US$ 301 million (-4.6%

YoY)

November

1 -- Trade surplus for October US$ 2.246 billion (-44.7 % YoY) 1 -- New car sales October 253,400 units (+0.9% MoM & -0.5% Yo 2 -- National Religious Holiday [All Saints Day] 4 -- STJ sentenced ex-Gov. Waldez de Goes (PDT) to 6 years & 9 months prison term 4 -- US maintained veto of imports of Brazilian beef 4 -- Gen. Santa Rosa resigned his post as head of the SAE 5 -- Election Day in the US 5 -- BNDES returned R$ 30 billion to SRF 5 – Pres. Bolsonaro issued MP ending the monopoly of the Casa da Moeda 5 – Federal Police requested arrest of Dilma Rousseff, Guido Mantega, Sen. Eunicio de

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Oliveira, Sen. Valdir Raupp & TCU judge Vital do Rego Filho regarding bribes 2014 elections 6 -- STF – on 6-to-5 vote decided against imprisonment after 2nd leel court conviction 6 -- Operation Replicantes in Tocantins 6 -- Brazil (for the first time) joined US & Israel to vote against the US embargo of Cuba 6 -- Senate approved Social Security Reform PEC on 2nd round vote. 6 -- ANP held auction for exploration blocks – only Petrobras & Chinese firms made bids 6 -- Central Bank announced negative results October savings accounts -R$ 247.3 million 6 – Central Bank announced negative January-October FX flows -R$ 21.904 billion 7 -- Operation Appius against ex-STJ President Cesar Asfor Rocha taking bribes in 2010 7 – Petrobras sold Liquigas to a consortium of Copagaz, Itausa & Butano for R$ 3.7 billion 7 -- IBGE posted IPCA data for October +0.10%; 12-month accumulation at +2.54 % 8 – IBGE industrial production in September +0.3% YoY 8 – Grupo de Lima met in Brasília 8 -- Lula Livre – at 4:00 p.m. Lula was released from the Federal Police lock up in Curitiba. 11 -- National Holiday – Remembrance Day (in UK & Canada); Veterans’ Day (in US) 11-13 – OECD Commission visited Brasília negative report 12 -- Engevix signed a R$ 526 million leniency agreement with CGU 12 -- Bolivian President Evo Morales resigned & arrived in Mexico (in exile) 12 -- IBGE – Services Sector in September +1.2 % MoM & +0.7% (12-months) 12 -- Pres. Bolsonaro signed a MP that increased bank workers’ work day 68 hours and allows bank offices to open on Saturdays 12 -- Senate President Davi Alcolumbre officially promulgated theSocial Security Reform PEC 13 – Venezuelan Embassy was “occupied” in Brasília 13 -- IBGE -- Retail Sales in September, +0.7% MoM; 12-month accumulation +1.5% 13 -- Lava Jato accused Alusa executives of paying R$ 5.9 million in corruption bribes 13-14 – 11th BRICS Summit met in Brasília 14 -- OAS signed a R$ 1.92 billion leniency agreement with AGU & CGU

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14 -- Infrastructure Ministry announced the merger of Valec, Infraero & EPL by 2022 14 -- Central Bank IBC-Br for September +0.44% MoM & +2.11% YoY For 3rd Q/2019, +0.91% QonQ & 12-month accumulation was 0.99% 14-16 -- APEC summit meeting in Santiago, Chile 15 – Brazilian National Holiday [Republic Day) 18 -- Environment Minister Ricardo Salles deforestation had advanced +29.5% 18 -- Embraer & Boeing to develop & market C-390 Millennium 18 -- Economy Minister Paulo Guedes announced 2019 fiscal deficit would be R$ 80 billion 18 -- GE & Celma announced R$ 250 million investment, new jet engine repair plant, Três Rios 18 -- Pres. Bolsonaro met with Wei Yao (Huawei) to discuss 5G for Brazil (2nd semester 2020) 19 -- US granted agreement for Amb. Nestor Forster (pending Brazilian Senate confirmation) 19 -- IMD World Talent Rating – Brazil among 63 nations 19 -- IBGE PNAD – unemployment in 3rd Q/2018 11.8% 19 -- Operation Faroeste – against corruption “gang” at the TJ-BA (STJ order) 19 -- Senate approved (two rounds same day) the PEC Paralelo 19 -- Federal Judge Marcelo Bretas arrest warrant for ex-Paraguayan Pres. Horacio Cartes 20 -- SRF announced October federal revenues R$ 135 billion 20 -- FGV-EPGE announced Gini Index income inequality, 3rd Q/2019 0.628 20 -- Former Braskem president Carlos Grubisich arrested at JFK airport, en route to Europe 20 -- Zumbi Day – Afro-Brazilian Consciousness Day [holiday in 832 cities] 20 -- STF President Dias Toffoli read his vote against the sharing of Financial Intelligence data 20 -- Former MG Governor Fernando Pimentel (PT) sentenced 10 years & 6 months prison 21 -- Labor Ministry – Caged data, 70,852 new jobs created in October 21 -- Beef prices were up by +4.2% and pork prices were up by +3.11% (exports for China) 21 -- Bolsonaro group founded new political party Aliança pelo Brasil 22 -- IBGE posted IPCA-15 +0.14%

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22 -- Operation Elétron against ANEEL director, bribes received (2010-213) 24 -- Uruguay Second Round election –Blanco Party candidate Lacalle Pou elected (50.6%) 26 -- Operation Cadeira Alimentar II 50 municípios in SP 27 -- TRF-4 upheld Lula’s corruption conviction regarding the Sítio de Atibaia case and

increased prison term 1317 years 28 -- CMN limited cheque especial interest rates 28 -- IBGE – Life expectancy for child born in2028 76.3 28 -- STF voted 9-to3 to “liberate” financial intelligence data (Toffoli changed his vote) 28-29 -- Thanksgiving Day, holiday observed in the US 29 -- FGV to post November IGP-M +0.30% 29 -- Federal Police action against PSL President Luciano Bivar – laranja candidates 29 -- IBGE – PNAD unemployment Aug.-Sept-Oct. 11.6% 30 -- Public Account data for October

Current Account Deficit, -US$ 7.874 billion Primary Surplus +R$ 9.444 billion Nominal Deficit, -R$ 10.855 billion FDI US$ 6.815 billion

Brazilian Tourist Overseas Spending US$ 1.506 billion Foreign Tourist Apending in Brazil US$ 442 million

December 1 -- World Anti-AIDS day 2 -- Trade Surplus November US$ 3.428 billion, Jan-Nov US$ 41.079 billion (-21.1% YoY) 2 -- Fenabrave November auto sales, 242,300 units 2-13 -- COP25 met in Madrid 3 -- OECD released results of PISA exam 80 nations Brazil – Reading 57th Rank; Math 70th

rank; and Sciences 67th rank 3 -- IBGE released GDP data for 3rd Q /2019 +0.6% QonQ & +1.0% 12-months 3 -- TSE decided that new parties can use digital signatures for qualification

4 -- IBGE announced Industrial Production for October +0.8% MoM & +1.0% YoY 4 -- Senate approved social security/pension reform for Armed Forces 4-5 -- Mercosul met in Bento Gonçalves, RS 5 -- Anfavea November auto production -7.1% YoY

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5 -- Iberdrola announced R$ 1.2 billion loan from BEI for Neoenergia install 15 wind farms 6 -- IBGE posted IPCA data for November +0.51% 6 -- New Poll by FSB for Veja 8 -- New Datafolha poll 8 -- UNDP released its HDI-Human Development Index, Brazil 79th out of 189 nations 9 -- Justice Minister Sérgio Moro sent National Security Force to protect Guarajaras in MA 9 -- Pres. Bolsonaro called Greta Thumberg a Pirralha (a brat) 10 -- V-Pres. Hamilton Mourão represented Brazil at he inauguration of new Argentine

President Alberto Fernándes 10 -- New Argentine President Alberto Fernándes granted “refugee” status for Evo Morales 10 -- TSE – 6-to-1 vote to cassar (remove mandate) of Sen. Juiza Selma Arruda (Podemos-MT) 10 – Operation Mapa da Mina investigated Gamecorp Lulinha (Fábio Luis Lula da Silva) 10-11 -- Copom meeting (the last in 2019), reducedSelic basic rate 5.0% 4.5% 11 -- Operation Florence Dama da Lâmpada – corruption in Alagoas, governor’s daughter 11 -- IBGE announced retail sales for October +0.1% MoM & +1.8% YoY 11 -- Petrobras President Roberto Castello Branco sale of Braskem & Gaspetro in 2020 11 -- Greta Thumberg on the cover of Time (person of the year). She incorporated Pirralha. 11 -- IBGE posted October Industrial Production data +0.8% Mom & +1.0% YoY 11 -- S&P revised its “perspective” for Brazil, from “stable” to “positive” 11 -- Federal Police investigate laranja candidate scheme in Roraima (MDB &PSD) 12 -- Operation Carta de Foral against Vice-Gov. of Pará Lúcio Vale (PL) 12 -- IGBE announced services sector data in October +0.8% MoM 12 -- Nature magazine Ricardo Galvão (formerPresident of INPE as “Scientist of the Year”; he

was sacked in June sacked by Bolsonaro when INPE announced a 90% increase in deforestation in the Amazon region

12 – BNDES announced plans to sell part of its shares in Petrobras 13 -- AI-5 – 51st Anniversary of signing of Fifth Institutional Act 13 -- XPi released new poll conducted by Ipespe 13 – Datafolha reported that 39% disapprove the STF

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14 -- Ex-Pres. Dilma Rousseff 72nd birthday 13 -- Central Bank announced October IBC-Br +0.17 % 17 -- World Economic Forum published Global Gender Gap Report – Brazil 95th 92nd 16 -- FGV announced IGP-10 +1.69% 17 -- Fiat, Peugeot & Chrysler announced merger 17 – Government requested a study regarding the privatization of ECT (post office) 17 – Congress approved transfer of COAF to the Central Bank 17 – Congress approved the 2020 annual budget 17 – Pres. Bolsonaro sanctioned Armed Forces Social Security/pension reform 17 -- Operation Calvário – Juizo Final – against current and previous governors of PB 18 -- Operation Óbolo against corruption in leasing of tankers for Petrobras 18 – BNDES sold all of its shares in Mafrig (R$ 2 billion) 18 – Banco Itau BBA announced reopening of branch office in Lisbon (due to BREXIT) 19 -- Labor Ministry Caged data, 99,232 new jobs created in November 20 – CNI released new poll conducted by Ibope on 5-8 December 20 – Brazilian government extinguished 27,500 obsolete job categories 20 -- IBGE to announce IPCA-15 +1.05% 20 – US President Trump excluded Brazil from steel & aluminum tariffs 19 -- SRF announced federal revenues for November R$ 125.161 billion (+1.48% YoY) 27 -- Abras announced super market sales January-November +6.39% YoY 21 -- STF authorized Federal Police “search-and-seize” operation against Dep. Wilson Santiago 21 – Aneel – Concession auction for 12 lots of transmission lines (2,470 Km) 24 – CGU cancelled pension for former Petrobras President José Sérgio Gabrielle 24 – Pres. Bolsonaro sanctioned anti-crime package 24 – Christmas Eve – holiday in the afternoon 25 -- Christmas Day [national holiday] 26 – Boxing Day Holiday in the UK and Canada 26 – Federal Police indicted Lula, Antonio Palocci, Paulo Okamoto & Odebrecht (Inst. Lula) 27 – IBGE PNAD unemployment for Sept-Oct-Nov 11.2% 27 -- FGV posted December IGP-M +2.09% 30 -- Public Account data for November

Current Account Deficit -US$ 2.164 billion 30

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FDI US$ billion Primary Deficit, -R$ 15.312 billion Nominal Deficit, -R$ 53.157 billion FDI US$ 6.985 billion Overseas tourist spending US$ 1.247 billion Foreign tourist spending in Brazil US$ 432 million

31 – New Year’s Eve – holiday in the afternoon

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