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Brazil’s Bolsonaro, silent after election loss, to skip G20

Photo: Arthur Menescal / Bloomberg

| By AFP |

Brazil’s outgoing President Jair Bolsonaro will not participate in the G20 summit in Indonesia, the foreign ministry said Monday, without explaining his unusual absence from the meeting.

Aside from a brief speech two days after his razor-thin election loss to leftist Luiz Inacio Lula da Silva late last month, the far-right Bolsonaro has all but disappeared from public view, and is unusually silent on social media, with his official agenda empty.

The Brazilian delegation to the meeting of the world’s 20 most developed nations “is being led by Foreign Minister Carlos Franca,” the ministry told AFP.

It is the first time since the start of his mandate in January 2019 that Bolsonaro — who remains in office until January 1, 2023 — will not be at the summit to represent Brazil.

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With Bolsonaro out of sight and keeping mum, all eyes are on the politician known simply as Lula as he prepares his transition to a third term as president of the Latin American giant.

Lula was on Monday traveling to Egypt for the COP27 global climate summit, under the heavy weight of expectation that Brazil will signal a turnaround in the protection of the Amazon.

The rainforest has experienced rampant deforestation under Bolsonaro, who prioritized what he saw as economic development through mining and agriculture in the vast area.

Bolsonaro’s handling of the Amazon’s destruction contributed largely to Brazil’s international isolation.

At the G20 summit in Rome last year, Bolsonaro was spotted awkwardly meandering alone around a room, as other leaders chatted amiably.

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Another leader who is shunning the G20 meeting is Russia’s Vladimir Putin, who is isolated due to the war he is pursuing in Ukraine.

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

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International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.

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