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MercoPress, en Español

Montevideo, April 20th 2024 - 02:00 UTC

Brazil

  • Thursday, May 19th 2016 - 11:57 UTC

    Meirelles unveils a dark picture of Brazil's finances and insists of pensions reform

    Meirelles said that he will have the final estimate of the primary deficit by Friday. On that date government has to issue a bimonthly report of state finances.

    Brazil's fiscal deficit prior to debt interest payments could reach 150 billion Reais (US$42.10 billion) this year as revenues collapse amid a crippling recession economy, Finance Minister Henrique Meirelles warned on Wednesday. The deficit includes eventual losses from state electricity holding Eletrobras.

  • Thursday, May 19th 2016 - 08:02 UTC

    Lula's most trusted and closest political advisor sentenced to 23 years in prison

    Dirceu was former President Lula da Silva's chief of staff from 2003 to 2005 before being forced to step down over a congressional vote-buying scheme.

    A Brazilian federal judge on Wednesday sentenced Jose Dirceu, a former presidential chief of staff, to 23 years and three months in prison for his role in a massive corruption scheme centered on state-controlled oil company Petrobras. Judge Sergio Moro, who is spearheading the bribes-for-inflated contracts probe, found Dirceu guilty of accepting and paying bribes and money laundering.

  • Thursday, May 19th 2016 - 07:49 UTC

    Rousseff's party preparing a large national rally “Out with Temer”, for June first

    Falcao referred to acting president Temer as a “coup leader”, “illegal” and a “usurper”.

    Brazils' Worker's Party, PT, to which suspended President Dilma Rousseff belongs, insisted that the country is experiencing a “coup” and announced a campaign to “remove” acting President Michel Temer. PT president Rui Falcao said after a meeting of the national party directorate in Brasilia, that party members will continue “fighting the coup” and will undertake actions to raise society's awareness of the need to “get rid of Temer.”

  • Wednesday, May 18th 2016 - 12:21 UTC

    Petrobras: Temer pledges judicial independence and respect for prosecutors nomination process

    Temer told Globo TV he would maintain the tradition of nominating the candidate chosen by the corps of prosecutors

    Brazil's interim president, Michel Temer said he would continue a tradition of nominating a prosecutor general who comes recommended by peers, allaying concerns about judicial independence. Justice Minister Alexandre de Moraes, sworn in last week as part of Temer's new government, told the Folha de S.Paulo newspaper in an interview that the prosecutor general of Brazil could be selected at will by the president.

  • Wednesday, May 18th 2016 - 06:01 UTC

    Orthodox economist Goldfajn confirmed as Brazil's central bank governor

    Ilan Goldfajn, chief economist of Itau Unibanco Holding, will replace Alexandre Tombini as central bank governor. Senate must ratify Goldfajn's appointment.

    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.

  • Tuesday, May 17th 2016 - 11:00 UTC

    Brazil's economy contracts for fifteenth consecutive month

    Private economists consulted in the Central Bank's latest weekly survey expects Brazil's GDP to shrink by a further 3.86% this year.

    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.

  • Tuesday, May 17th 2016 - 10:50 UTC

    Temer meets Brazilian unions to draft a blueprint for pension system reform

    “Temer took no position at the meeting,” said Antonio Neto, head of the CSB union. “Temer just said he is in a hurry and wants a plan in 30 days.”

    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.

  • Tuesday, May 17th 2016 - 07:25 UTC

    Temer names a woman to head Brazil's giant development bank, BNDES

    Maria Silvia Bastos Marques, a career bureaucrat and onetime steel executive who worked on Rio de Janeiro’s Olympics preparations, will head BNDES

    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.

  • Monday, May 16th 2016 - 18:45 UTC

    Petrobras implosion takes a major player from the floating production systems market

    Petrobras’ situation needs to stabilize and begin improving before the company can again be a major driver of production floater contracts.

    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.

  • Monday, May 16th 2016 - 06:15 UTC

    Temer government considering selling stakes of state controlled assets

    Temer's government is working with a list of companies and sectors that would be the first targets of any move toward sales of state-controlled holdings, said O Globo

    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.