Bolsonaro Dynasty: A New Era Looms in Brazilian Politics

Former Brazilian President Jair Bolsonaro plans to back his son, Flavio Bolsonaro, for the 2026 presidential election. Bolsonaro disclosed this during a police visit where he is under a coup plot sentence. The announcement affected Brazilian markets, causing a depreciation of the currency and stocks.

In a surprising political maneuver, Jair Bolsonaro, the former President of Brazil, has indicated his intention to throw his support behind his eldest son, Senator Flavio Bolsonaro, for the 2026 presidential elections. The decision, reported by CNN Brasil, was revealed during Jair Bolsonaro's visit to federal police offices in Brasilia, where he is currently serving a sentence for plotting a coup.

This revelation, cited from anonymous sources close to the Bolsonaro family, comes at a time of political uncertainty in Brazil, stirring significant interest and speculation about the country's future leadership. The former president's decision to back his son suggests a continuation of the Bolsonaro political dynasty, with Flavio set to potentially carry forward his father's right-wing legacy.

The implications of this announcement have already sent ripples through Brazilian financial markets, as evidenced by a notable decline in the national currency, which weakened by over 1.5% against the U.S. dollar. Additionally, Brazil's benchmark stock index, Bovespa, saw a drop of 1.8%, reflecting investor unease over the possible political developments.

(With inputs from agencies.)