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RIO DE JANEIRO, BRAZIL - Brazil’s Economy Minister Paulo Guedes and the powerful Chamber of Deputies President Rodrigo Maia announced a truce after more than a month of bickering over reforms and how to tackle a widening fiscal deficit. Local markets rallied.

After having dinner in Brasilia on Monday evening together with a group of legislators, Maia apologized for disrespectful remarks he’d made about Guedes recently and said both must work to protect fiscal responsibility in Brazil.

“I was impolite and rude, I leave my apology here,” Maia said after the encounter. “I told Minister Guedes and those present . . .

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