Tag: Dilma RousseffDilma Rousseff
Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.
Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Brazil's Congress has upheld President Dilma Rousseff's vetoes of two bills to raise public spending, a victory for the embattled leader as she tries to close a gaping fiscal deficit and regain investors' confidence.
Brazilian President Dilma Rousseff jumped to the defense of her embattled finance minister saying she would not be pressured into sacking him. Rousseff, fighting to save her second term presidency from threatened impeachment proceedings, said she was ignoring suggestions by the head of her own Workers' Party (PT) that Joaquim Levy should be dismissed.
Brazilian President Dilma Rousseff has slapped preliminary fines worth 250 million Reais ($94 million) against a BHP Billiton-Value owned mine in Minas Gerais state where two dams burst, killing at least seven people.
Former Brazilian president Lula da Silva urged the ruling Workers' Party to back fiscal austerity measures in Congress, endorsing the efforts of Finance Minister Joaquim Levy to plug a gaping deficit. Members of Lula's party have opposed moves by Lula's protégée, President Dilma Rousseff, to cut public spending and social benefits as she strives to balance overdrawn accounts and restore investor confidence in Brazil.
Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday. Brazil's overall budget deficit has soared to 9% of GDP, according to estimates.
Brazil's opposition filed a new impeachment petition against President Dilma Rousseff on Wednesday, accusing her of illegal accounting practices. The much-anticipated petition, whose authors include a founder of Rousseff's Workers' Party, was handed over to congressional lower house speaker Eduardo Cunha.
Brazil's federal police have opened a preliminary investigation into alleged irregularities in President Dilma Rousseff's re-election campaign last year. According to the media office of the federal police, the probe was opened on 7 October, following a decision by Justice Gilmar Mendes from the Superior Electoral Court to look into allegations of wrongdoing by the Rousseff campaign.
Brazilian ex-President Lula da Silva, who allegedly used his influence to aid a leading domestic engineering group after leaving office, voluntarily testified on Thursday before federal prosecutors during an hour and a half, his foundation said.