Embattled Brazilian President Dilma Rousseff will travel to New York in a bid to rally international support against her impeachment, leaving behind a Cabinet paralyzed by political crisis as another minister defected Wednesday.
Financial markets in Brazil, and globally, are betting that with the exit of president Dilma Rousseff, a more business friendly government will take over helping Latin America's largest economy to kick-start with vice-president Michel Temer, who apparently is working on a wide ranging 'national coalition' and 'salvation cabinet'.
Uruguay's ruling coalition, Broad Front, came out strongly in support of Brazilian president Dilma Rousseff and condemned the coup which is being instrumented against the head of state who was supported by 54 million votes in free, open democratic elections.
Brazil's President Dilma Rousseff vowed on Monday to fight impeachment to the very end in the Senate after a Sunday heavy defeat in the lower house of Congress raised the likelihood of an end to her administration and 13 years of populist rule in Latin America's largest economy.
As the political battle to remove president Dilma Rousseff rages on, with both sides seeming to ignore the necessary confidence and certainty for normal business, economists are becoming increasingly pessimistic about Brazil's economic outlook.
President Dilma Rousseff lost a crucial impeachment vote in Brazil’s lower house on Sunday evening, making her removal ever more likely and deepening the country’s political crisis. Rousseff’s opponents easily obtained the two-thirds majority of votes in the 513-member Chamber of Deputies needed to pass the impeachment measure.
Despite growing optimism among Mercosur member countries of reaching a trade agreement with the European Union, Argentine minister of foreign affairs Susana Malcorra has cautioned that the road ahead is not a bed of roses, and the coming exchange of goods and tariff reduction proposals will not satisfy any of the two sides, but that is where serious discussions begin.
Embattled Brazilian President Dilma Rousseff canceled a scheduled address to the nation on Friday night, ahead of a looming impeachment vote in the lower house of Congress. The lower house will vote Sunday on whether Rousseff should be impeached by the Senate for allegedly breaking financial laws.
Brazilian president President Dilma Rousseff received on Friday in Brasilia the Organization of American States, (OAS), Secretary General Luis Almagro to discuss on the current situation in the country, some regional issues and the role played by OAS.
President Dilma Rousseff is scheduled to address Brazil on national television Friday evening, the same day that Congress started a three-day debate to decide whether there are enough arguments to begin the impeachment process that could lead to her removal from office. She is charged with manipulating budget accounts that helped her government present balanced accounts for the 2014 presidential elections.