Tag: Dilma Rousseff

Dilma Rousseff
Monday, August 3rd 2015 - 09:40 UTC

Brazilian currency at its weakest against the US dollar since March 2003

On Friday the US dollar broke the 3,40 Reais barrier for the first time since 20 March 2003. The Brazilian currency in the month of July lost 10.2%.

The Brazilian currency Real lost 1% at the end of trading on Friday and begins this week at 3.42 Reais to the US dollar, the lowest in twelve years, because of the political and economic uncertainties surrounding Latin America's largest economy.

Wednesday, July 29th 2015 - 06:00 UTC

S&P warns Brazil could lose investment-grade rating as economic slippage continues

The statement sent Brazil's currency tumbling and is a setback to Finance Minister Joaquim Levy's efforts to win back investor confidence

Standard & Poor's on Tuesday said Brazil could lose its coveted investment-grade rating in the coming year if fallout from a number of corruption investigations further stymies economic growth and the implementation of austerity measures.

Tuesday, July 28th 2015 - 06:13 UTC

Brazil central bank survey confirms worst economic performance since 1990

President Dilma Rousseff not only has to deal with a contracting economy but also with a complicated political situation in Congress

Analysts expect Brazil's economy to contract by 1.76% this year, marking its worst performance since 1990, with the inflation rate hitting 9.23%, the Central Bank said on Monday.

Thursday, July 23rd 2015 - 08:52 UTC

Brazil's recession expected to continue next year according to top bank

Ilan Goldfajn  forecasts a drop of 2.2% in 2015 and 0.2% in 2016, down from previous estimates a 1.7% decline in 2015 and an increase of 0.3% in 2016.

Brazil's recession will extend into next year, hurting President Dilma Rousseff's efforts to shore up public finances and arrest a sharp increase in unemployment, Itau Unibanco's chief economist said in a report on Wednesday. Ilan Goldfajn forecasts a drop of 2.2% in 2015 and 0.2% in 2016, down from previous estimates for a decline of 1.7% in 2015 and an increase of 0.3% in 2016.

Thursday, July 23rd 2015 - 08:02 UTC

Brazil slashes fiscal savings' goals for 2015 and 2016 on plunging tax revenue

“The target revision should not be taken as a sign that we are abandoning the fiscal adjustment” said Finance Minister Joaquim Levy

Brazil dramatically lowered its fiscal savings goals for 2015 and 2016 on Wednesday due to plunging tax revenues, and announced new spending cuts to underscore its commitment to austerity. The government cut its primary surplus goal for this year to 8.7 billion reais ($2.70 billion), or 0.15% of GDP, from 66.3 billion reais, the equivalent of 1.1% of GDP, originally budgeted.

Wednesday, July 22nd 2015 - 07:34 UTC

Dilma almost KO: 84.6% don't believe she can handle the economy and 62.8% want her impeached

The number of respondents who favor Rousseff's impeachment over a massive kickback scandal at Petrobras has risen to 62.8% from 59.7% four months ago.

Brazilian President Dilma Rousseff's popularity slumped to a new low and support for her impeachment grew amid a deepening corruption scandal and a severe economic downturn, according to an opinion poll published on Tuesday.

Saturday, July 18th 2015 - 09:29 UTC

Mercosur agrees to give intra-trade a new boost eliminating barriers

Dilma Rousseff formally hands the pro tempore presidency of Mercosur for the next six months to Paraguayan president Horacio Cartes

Mercosur agreed at the Brasilia summit that in the second half of the year they will address alternatives for the elimination of tariff and other similar barriers that impede the natural flow of trade of goods and services among its members. The initiative was agreed by Common Market Council, CMC, on the first day of deliberations and confirmed on Friday by the presidents of the group's full members.

Saturday, July 18th 2015 - 08:10 UTC

Rousseff, ever so weakened and isolated warns of “anti democratic adventures”

Rousseff comments came just hours after the speaker of the lower house of Congress, Eduardo Cunha, broke ties with her government

Brazilian President Dilma Rousseff told regional peers on Friday there is no room for “anti-democratic adventures” in South America, a day after the speaker of Brazil's lower house said he was weighing legal arguments for her impeachment. Speaking to the heads of state of Mercosur, Rousseff said political leaders should strive for dialogue to resolve ideological differences.

Friday, July 17th 2015 - 04:48 UTC

Brazil's corruption scandals reach Lula da Silva: probe into influence peddling

The probe targets Lula's alleged use of his clout after leaving office to help construction giant Odebrecht land billion-dollar contracts in Latam and Africa.

Prosecutors in Brazil have announced a probe into possible influence peddling by former president Lula da Silva, involving the construction firm Odebrecht which is one of Latin America's largest engineering company. The investigation will center on Lula's alleged use of his clout after leaving office to help scandal-ridden construction giant Odebrecht land billion-dollar contracts in Latin America and Africa.

Thursday, July 16th 2015 - 09:28 UTC

Paraguay, as chair of the group, determined to return Mercosur to 'its roots'

“The idea of the meeting was to elaborate on how to return Mercosur to its roots, that is its trade and commercial profile and less politics” said Loizaga.

Paraguay is committed to return Mercosur to 'its roots', reach an agreement on some of the original fundamentals, eliminate restrictions to inter-trade and strongly promote the trade accord with the European Union. This is scheduled to take place in the coming six months once Paraguay is handed Mercosur' chair at the group's midyear presidential summit that begins on Thursday in Brasilia.

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