Brazil's interim government on Tuesday confirmed the lead economist of the country's largest private bank to head the central bank, in a further shift away from the interventionist policies that many blame for deep recession and near double-digit inflation.
Brazil's economic activity contracted by 1.44% in the first quarter relative to October-December 2015 and 6.27% compared to the same three-month period of 2015, the Central Bank said Friday. The figures come from the Central Bank's Index of Economic Activity, or IBC-Br, an indicator used as a preview of the gross domestic product (GDP) number.
Brazilian interim President Michel Temer agreed with union leaders on Monday to draft a blueprint for overhauling the creaking pension system within a month, as he seeks to restore confidence in Latin America's largest economy. Temer has vowed to plug a fiscal gap equivalent to more than 11% of GDP last year.
Brazil’s interim President Michel Temer will replace the head of the government’s giant development bank with a female economist, following heavy criticism over his appointment of an all-male white cabinet.
Brazil´s Petrobras problems has taken a major player from the market for new floating production systems in the oil business, according to a report from the industry. In effect absence of new contracts has forced fabricators and equipment suppliers to make huge cutbacks in personnel and spending and the past 12 to 18 months have been a difficult period the whole deepwater production sector.
Brazil's government is considering selling stakes in state-controlled assets including its postal company as well as holdings in transport, power and insurance firms in a bid to raise capital and streamline the public sector, a newspaper reported on Sunday.
The elevation of a centrist vice president, Michel Temer, as Brazil’s president amid the impeachment process of Dilma Rousseff is expected to result in a less strained relationship between Brazil and Israel, as well as its Jewish community, Jewish leaders in Sao Paulo said.
Brazil's interim government dismissed criticism by populist countries in Latin America, including Venezuela, Cuba and Bolivia, over the impeachment process of Dilma Rousseff, who was suspended as president by the senate.
Brazil's interim government said on Friday it has the political support for tough measures needed to return the economy to growth and can secure a permanent mandate once populist President Dilma Rousseff's impeachment trial is over. Presidential Chief of Staff Eliseu Padilha said the incoming government understood it was only provisional for now and had ordered portraits of Rousseff to be left hanging in federal buildings.
Argentina supports the institutional situation in Brazil, but fears effects of the neighbor's recession
The Argentine government publicly showed its support for the new status quo in Brazil, minutes after the country’s vice-president, Michel Temer, temporarily took power after President Dilma Rousseff was suspended from office after the Senate voted to open impeachment proceedings against her early yesterday morning.