Dilma is an academic socialist turned bureaucrat who was an activist and a guerrilla fighter against the Brazilian military dictatorship. Some Brazilians see her as a Marxist. Some Brazillians see her as a freedom fighter. But the majority of Brazilians see her as a relatively competent technocrat with a long history of public service.
She is not a Chavez-type in the sense of a dictator who will shut down the free press and expropriate foreign interests. (Brazil has a remarkable free press and capitalistic system for a country in this part of the world and in this stage of development.).
I am more concerned by her proximity to the graft and corruption that was/is endemic to Brazil and to the PT party, than to her guerrilla past. She is appointing party loyalists tainted by scandal to high positions... But many, many, here are similarly tainted and nobody seems to care all that much.
Since Dilma is an educated life-long beaurocrat, not a politician, as she was appointed President by Lula, she is not to be feared.
What needs to be feared is the dillution and debt PBR is piling on in the coming years. PBR alone represented over 20% of the BNDES loans over the last couple of years. That is a Government back door subsidized loan system for PBR. It is starting to get attention in the press in Brazil. If the BNDES is forced to call in the loans, PBR will have a much higher cost to borrow money.
I see PBR as dead money for now. Justed another busted secondary. Anybody who bought is wished they had bought AAPL or GOOG.