Moody's rating agency said on Monday that the results of Brazil's election on Sunday indicate a tight race in the run-off between President Jair Bolsonaro and former President Luiz Inacio Lula da Silva scheduled for October 30.
"The results of the first round of the presidential elections in Brazil suggest a close race in the second round. They also made it clear that the next administration will continue to deal with a Congress that is too fragmented to advance a reform agenda," said Samar Maziad, senior analyst at Moody's Investors Service.
(Reporting by Carolina Pulice and Peter Frontini)
