Brazil

Brazil
Friday, May 13th 2016 - 06:46 UTC

Temer calls on Brazil to rally behind the “national salvation” government

 “It is urgent we calm the nation and unite Brazil,” said Temer after a signing ceremony for his incoming cabinet.

Brazil's acting President Michel Temer called on his country to rally behind his government of “national salvation” hours after the Senate voted to suspend and put on trial his populist predecessor, Dilma Rousseff, for breaking budget laws.

Friday, May 13th 2016 - 06:13 UTC

US confident Brazil will address political challenges according to constitutional principles

 “We are confident Brazil will work through its political challenges democratically in accordance with its constitutional principles”, said Ms Trudeau

United States continues to follow political development in Brazil and is confident that the country will work through its political challenges democratically in accordance with its constitutional principles, said the State Department spokesperson on Thursday in reply to a question on current events in Brasilia.

Thursday, May 12th 2016 - 18:26 UTC

Rousseff vows to keep fighting the “coup” that pretends to ignore her 54 million votes

”I confess, I never imagined it would be necessary to fight against a coup in my country,” Rousseff said in a speech to the nation.

Suspended Brazilian President Dilma Rousseff called the impeachment a ‘coup’, the result of a fraudulent process that ignores the 54 million people who voted for her, but vowed to keep fighting hours after on early Thursday, the Senate voted in favor of her impeachment trial.

Thursday, May 12th 2016 - 17:37 UTC

Temer acting president of Brazil after a 55/22 Senate vote to impeach Rousseff

The impeachment process was supported by 55 Senators, which is one more than the two thirds, 54, needed to definitively remove Rousseff

After 20 hours of debate, a clear majority in the Brazilian Senate voted on early Thursday morning to suspend Brazilian President Dilma Rousseff, an action that removes her temporarily from office and sees her replaced by interim vice-president Michel Temer during her impeachment trial, which in 180 days could see her successor become full president until January 2019.

Thursday, May 12th 2016 - 08:53 UTC

Goldfajn considered the most probable candidate for Brazil's central bank

Goldfajn, chief economist with Itau Unibanco, is almost certain to be picked for the central bank, but the final decision rests on Finance Minister Henrique Meirelles

Brazil's Vice President Michel Temer could wait until June to appoint a new central bank chief if he takes over the reins of power this week, as part of a gradual transition to replace the bank's eight-member board, his spokesman said on Wednesday.

Thursday, May 12th 2016 - 08:37 UTC

Senate votes to remove Rousseff, but the target number is 54, two thirds of the upper house

In a marathon session of speeches, 41 of the 81 senators had indicated by the early hours of Thursday morning that they would vote to put Rousseff on trial

A clear majority of Brazil's Senate indicated on Thursday it will vote to put President Dilma Rousseff on trial for breaking budget laws, signaling the end of 13 years of rule by the populist Workers Party in Latin America's largest nation.

Wednesday, May 11th 2016 - 09:59 UTC

Rousseff clears her office; full Senate votes to suspend the president

In what could be one of her final meetings as president, Rousseff received the secretary general of the Organization of American States on Tuesday

Brazilian President Dilma Rousseff has packed up personal photos and stripped the shelves in her third-floor office in the Planalto presidential palace, a sign she is accepting the loss of her job in a Senate vote on Wednesday.

Tuesday, May 10th 2016 - 18:31 UTC

Apologizes to the Brazilian people, and pledges to return US$ 280 million from a major construction contractor

“Apology and Manifest for a Better Brazil”

Andrade Gutierrez, the second largest public works contractor in Brazil is to make public an “apology to the Brazilian people” for the illegal actions in the public construction contracts investigated by the Brazilian Federal Police's Lava Jato operation, reports Folha de Sao Paulo.

Tuesday, May 10th 2016 - 17:47 UTC

Rousseff's impeachment process back on track: Senate votes on Wednesday

Acting Speaker Maranhao on Monday annulled the Lower House's April vote on the impeachment process and a constitutional standoff

Brazilian President Dilma Rousseff's impeachment process and possible suspension from office is back on track after the acting speaker of the Lower House, Waldir Maranhao repented and withdrew his controversial decision to annul an April 17 impeachment vote.

Tuesday, May 10th 2016 - 06:56 UTC

Brazil's political adrift situation shocks markets but is a plum day for speculators

The Brazilian currency, the Real, weakened 1.5% against the U.S. dollar, after falling about 5% when the news broke.

Brazilian markets weakened on Monday after the acting lower house speaker in Brazil's Congress annulled an impeachment vote, though losses were pared as investors bet the move would delay rather than prevent leftist President Dilma Rousseff's removal from office.

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