Brazil's central bank expects annual inflation to ease below the government's 4.5% target in 2017 after years of hovering well above that goal, leaving the door open for cutting some of the world's highest interest rates as early as October. The bank also held its estimate for an economic contraction of 3.1% in 2016, but it expects the economy to grow 1.3% in 2017.
Brazilian president Michel Temer addressing business leaders and foreign policy experts in New York earlier this week revealed another twist to the recent political events in the country which led to the impeachment and removal of his elected predecessor Dilma Rousseff.
President Michel Temer criticized a surprise move by Brazilian lawmakers, including some members of his party and even a cabinet minister, to wipe the slate clean on illegal donations they allegedly received.
Brazil's new president, Michel Temer, told the United Nations on Tuesday that his controversial ascent showed the triumph of democracy. Temer took office on August 31 after the impeachment over accounting irregularities of elected president Dilma Rousseff, whose supporters said Brazil's right-wing forces had staged a bloodless coup.
Twenty days after being confirmed as Brazil’s new president, Michel Temer will deliver his first international speech at the UN´s General Assembly on Tuesday. He is not expected to mention recent political changes in Brazil, and focus rather on new opportunities for foreign investors.
President Tabare Vazquez confirmed on Monday that Uruguay will continue as “coordinator” of discussions between Mercosur and the European Union to reach a wide ranging trade agreement.
The Mercosur controversy has moved to New York far away from the spotlights of regional media, since the presidents of the four founding members are scheduled to address the UN General Assembly this week, and are expected to hold a series of meetings on the sidelines of the major global event.
Brazil's former president Lula da Silva defended himself against corruption charges Thursday, saying the case against him was an attempt to destroy him politically ahead of elections in 2018.Speaking a day after prosecutors accused him of masterminding a massive corruption scheme at state oil company Petrobras, the popular leader launched a wide-ranging defense of his career and legacy.
Two weeks after the removal of Dilma Rousseff as Brazil's president, the lower house of Congress on Monday expelled the lawmaker who engineered her impeachment for lying about secret bank accounts in Switzerland. The once powerful former speaker Eduardo Cunha, who has been charged with corruption by the Supreme Court, was banned from politics for eight years and faces arrest now he has lost his congressional prerogatives.
Brazil's new president, Michel Temer, promised a new era of government for the crisis-hit country Wednesday, shortly after being sworn in following the impeachment of his predecessor, Dilma Rousseff. Earlier, the Brazilian senate voted 61-20 to remove Rousseff from office for breaking federal budget laws.