President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and results will only start showing at the end of this year.
Brazil's Supreme Court late Friday approved an investigation of dozens of top politicians, including a former president and leaders of congress, for alleged connections to what they call the biggest graft scheme ever uncovered in the country which has the largest economy in Latin America.
Inflation jumped in Brazil on February with price increases hitting an annual rate of 7.7%, the highest in nearly nine years, officials said on Friday. The national statistics institute IBGE said prices rose 1.22% in February, pushing inflation well above the government's target ceiling of 6.5%.
Brazil's currency, the Real slid past three to the dollar (3.01) for the first time in 10 years on Thursday, in the latest sign of weakness of Latin America's largest economy.
Despite Brazil's 'violent devaluation' of its currency, Argentina will not pursue the same path because the country needs to give certainty and avoid instability said Economy minister Axel Kicillof. This week the Real plunged to its lowest level in over a decade burdened by economic and political uncertainty
A U.S. federal judge on Wednesday named a trustee of a British pension fund as the lead plaintiff in a class-action lawsuit against Brazil's state-run oil company Petrobras and its top executives.
Brazil’s central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil.
Brazilian President Dilma Rousseff, (and her political mentor Lula da Silva), raced on Wednesday to defuse a rebellion by legislators upset about her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras, which now threatens political stability.
The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.
Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petrobras a Supreme Court spokesperson said on Tuesday.