Bankers CEOs Jurists See ‘Immense Danger’ to Brazil Democracy

Bankers CEOs Jurists See ‘Immense Danger’ to Brazil Democracy

(Bloomberg) — Brazil’s top banking and company executives, as well as jurists, economists and other professionals signed a letter in defense of the country’s democracy and its voting system, which has become a target of unsubstantiated fraud allegations by President Jair Bolsonaro.
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The letter, which doesn’t mention Bolsonaro but refutes his claims, was published on Tuesday with more than 3,000 signatures.

“Our elections with the electronic counting process have been an example to the world,” reads the document. “Electronic voting machines proved to be safe and reliable, as well as the electoral justice.”

Among the signatories are former central bank chiefs Arminio Fraga and Persio Arida, Itau Unibanco SA’s Roberto Setubal, Pedro Moreira Salles and Candido Bracher, Verde Asset Management’ Luis Stuhlberger, Natura&Co’s Guilherme Leal, Pedro Passos and Fabio Barbosa, Credit Suisse Brazil’s former chief Jose Olympio, Suzano SA’s Walter Schalka and Klabin’s Horacio Lafer Piva.

Trailing former President Luiz Inacio da Silva in all major opinion polls, the conservative Brazilian president has intensified attacks against electoral authorities and cast doubt on the integrity of the electronic voting system the country has been using for more than two decades. Last week, he presented such allegations before an audience of foreign ambassadors, leading the US embassy in Brasilia to issue a statement the following day, calling Brazil’s voting system “a model for the world.”

“We are going through a moment of immense danger to democratic normality, risk to the institutions of the Republic and insinuations of disregard for the result of the elections,” reads the letter, demanding respect for the result of the election.
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