Ibiuna's Azevedo: Lula government packed regulatory agencies, hurting investment

Rodrigo Azevedo of Ibiuna said at the MBA Brasil 2026 Conference that Brazil's regulatory agencies have been 'aparelhadas' (packed) under the Lula government, creating legal insecurity that negatively affects investments. This is a political critique from a market figure, not a confirmed policy change, but it signals investor sentiment.

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