International
Bolsonaro welfare plan shakes Brazil markets, sparks resignations
AFP
A proposal by Brazil’s far-right President Jair Bolsonaro to dramatically increase welfare payments to the country’s underprivileged groups a year ahead of elections shook markets Thursday and triggered resignations at the Ministry of Economy.
The program could cost the government an extra 30 billion reais ($5.3 billion dollars) at a time when inflation is already high and exceed the government spending ceiling established by law.
The government announced earlier this week that it was setting up a new social welfare program to replace the “Bolsa Familia” system created by the leftist administration of former president Luiz Inacio Lula da Silva.
The new program would start in November with a 20 percent increase in benefits paid to nearly 17 million Brazilians in need.
Coming just a year before a presidential election in which Bolsonaro is widely expected to be defeated by Lula da Silva, the move was seen by several analysts as a pre-election sweetener.
The measure rattled investors. The Sao Paulo stock market fell 2.75 percent, while the price of the US dollar rose to 5.65 reais, its highest level in six months.
Concerned by the plan, several economic officials quit their posts, including top treasury officials Bruno Funchal and Jeferson Bittencourt, authorities said.
Bolsonaro denied that his project, whose source of funding has not been specified, is against the law.
“There are around 16 million people registered with the ‘Bolsa familia’, and though the financial aid reaches an average of 192 reais, many people receive 40, 50, 60 reais. What we are saying is: 400 reais for all,” he said Thursday.
Bolsonaro also offered to “help” 750,000 truckers with compensation for increases in the price of diesel.
The president made the announcements at a time when his popularity is at its lowest level since he took office in 2019, and amid high inflation and high unemployment.
International
German president says trust in U.S. leadership is ‘lost’ amid global tensions
German President Frank-Walter Steinmeier said on Tuesday that trust between the United States and its Western allies has been “lost,” warning that the damage could persist beyond the presidency of Donald Trump.
“The rupture is very deep, and the loss of trust in U.S. great power policy is significant—not only among its allies, but also, as I observe, globally,” Steinmeier said during a speech in Berlin marking the 75th anniversary of Germany’s Foreign Ministry.
Referring to the future of transatlantic relations, he stated that “there is no return to the situation before January 20, 2025,” the date marking the start of Trump’s second term in the White House.
“Even a future U.S. administration will no longer be able to resume the role of a benevolent hegemon guaranteeing a liberal international order,” added Steinmeier, who previously served as Germany’s foreign minister.
He also criticized the war against Iran, describing it as “contrary to international law” and calling it “a political mistake with serious consequences.”
“This war is avoidable and unnecessary,” he said.
Although the German presidency is largely ceremonial, Steinmeier’s remarks reflect a broader concern within Germany, aligning with the government’s cautious stance while going further in tone.
International
Trump claims talks with Iran as G7 meets to address global tensions
U.S. President Donald Trump said that the United States has held talks with Iran—a claim denied by Tehran—and has temporarily paused his threat to target the country’s electrical infrastructure.
In his first overseas trip since the United States and Israel launched their offensive on February 28, U.S. Secretary of State Marco Rubio is expected to address key global issues, including the situation in the Middle East, according to State Department spokesperson Tommy Pigott.
Foreign ministers from the Group of Seven will meet in Cernay-la-Ville, close to Versailles, on the outskirts of Paris.
During the meeting, Rubio will hold discussions with his counterparts on “the war between Russia and Ukraine, the situation in the Middle East, and threats to global peace and stability,” Pigott said.
France currently holds the presidency of the G7, whose members also include the United Kingdom, Canada, Germany, Italy, and Japan.
Although all G7 nations are close allies of the United States, none has offered explicit support for Washington’s military actions against Iran, a stance that has reportedly frustrated Trump.
Last Saturday, G7 foreign ministers called for an “immediate and unconditional end” to Iranian attacks against U.S. allies in the Middle East.
International
Pentagon to deploy 3,000 troops to Persian Gulf as Middle East tensions escalate
The Pentagon is planning to deploy nearly 3,000 troops from the 82nd Airborne Division to the Persian Gulf, according to two senior officials cited Tuesday by Spanish newspaper El País.
Meanwhile, Hezbollah warned it would confront any attempt at occupation following Israel’s announcement that its military will take control of southern Lebanon up to the Litani River, located about 30 kilometers from the border.
In recent hours, the Israel Defense Forces carried out airstrikes on Beirut, while Iran and Hezbollah responded with attacks on Israel, leaving at least six people with minor injuries in Tel Aviv.
The escalation comes as global markets react to renewed instability. The price of oil rose again above $100 per barrel after a brief decline the previous day, following an announcement by U.S. President Donald Trump of a five-day truce on attacks targeting Iran’s energy infrastructure.
Despite the announcement, Iranian authorities reported that two projectiles struck a gas pipeline in Khorramshahr and administrative buildings at a gas facility in Isfahan early Tuesday.
German president says trust in U.S. leadership is ‘lost’ amid global tensions
Trump claims talks with Iran as G7 meets to address global tensions
Pentagon to deploy 3,000 troops to Persian Gulf as Middle East tensions escalate
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