Brazil

Thursday, March 20th 2025 - 11:26 UTC
Brazil: Haddad says Selic adjustment stemmed from Campos Neto era

After Brazil Central Bank's (BCB) Monetary Policy Committee (Copom) raised Wednesday the benchmark Selic interest rate from 13.25% to 14.25% annually, Finance Minister Fernando Haddad warned that such a move had been planned since December under former BCB President Roberto Campos Neto, who had been appointed during the Jair Bolsonaro years.
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Thursday, March 20th 2025 - 10:23 UTC
Eduardo Bolsonaro to seek political asylum in the US

Brazilian Congressman Eduardo Bolsonaro, a son of former President Jair Bolsonaro, announced he would be taking a leave from Parliament and remaining in the United States where he intends to seek political asylum at the suggestion of his legal team, who advised him against returning to the country as his freedom could be endangered by whatever Supreme Federal Court (STF) Justice Alexandre De Moraes might decide. He traveled to the US on Feb. 27, 2025, initially for meetings and vacation.
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Thursday, March 20th 2025 - 06:07 UTC
Brazilian Central Bank raises interest rate to its highest in nine years, 14.25%

The Brazilian Central Bank Copom (Monetary Policy Committee) raised the benchmark interest rate (Selic) by one full percentage point on Wednesday, from 13.25% to 14.25%, the highest since 2016, the level reached during the political crisis that ousted then president of Dilma Rousseff’s (PT) government.
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Wednesday, March 19th 2025 - 10:12 UTC
Brazil condemns Conmebol chief statements

The Brazilian Government of President Luiz Inácio Lula da Silva Tuesday condemned South American Football Confederation President Alejandro Dominguez's remark comparing a Libertadores Cup without Brazilian teams to “Tarzan without Cheetah,” and criticized the sporting body for failing to combat racism effectively.
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Wednesday, March 19th 2025 - 10:06 UTC
Julio María Sanguinetti becomes corresponding member of Brazilian Academy of Letters

Former Uruguayan President Julio Maria Sanguinetti was inaugurated as a corresponding member of the Brazilian Academy of Letters (ABL) last Monday. In his acceptance speech, he emphasized the shared history of Uruguay and Brazil and how territorial disputes evolved into unity and brotherhood.
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Tuesday, March 18th 2025 - 08:12 UTC
Lula wants social media regulated by law

Brazilian President Luiz Inácio Lula da Silva called for legislation to regulate digital platforms and combat the concentration of power in “digital oligarchies.” At the inauguration of the Brazilian Bar Association's (OAB) new leadership, he underlined the need to protect democracy, promote fair competition, and safeguard vulnerable groups from “digital colonialism,” he also pointed out while highlighting the OAB's role in defending democracy.
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Saturday, March 15th 2025 - 20:02 UTC
UK appoints Lord David Evans Trade Envoy to Brazil, completing the Mercosur round of countries

The Secretary of State for Business and Trade has appointed Lord David Evans of Sealand as the UK Trade Envoy to Brazil. With this latest appointment all Mercosur countries now have Trade Envoys, since Fabian Hamilton MP, figures before Argentina, Paraguay and Uruguay. Likewise with Lord Roger Liddle for the Andean countries including Chile.
Saturday, March 15th 2025 - 09:50 UTC
Brazil's STF upholds ban on Rumble

The Supreme Federal Court (STF) of Brazil unanimously upheld the suspension of the Rumble social network, citing its lack of a legal representative in the country. Minister Alexandre de Moraes highlighted Rumble's use for spreading hate speech and attacks on democracy. Separately, the Attorney General's Office (PGR) opposed former President Jair Bolsonaro's appeal to remove ministers Flávio Dino and Cristiano Zanin from his coup plot trial, stating there were no legal grounds for their dismissal. Bolsonaro's trial, involving seven others, is set for March 25.
Friday, March 14th 2025 - 10:55 UTC
Brazil lifts import taxes of foodstuffs to lower inflation

Brazil's Chamber of Foreign Trade's (Camex) Executive Management Committee (Gecex) gave its nod Thursday to the temporary removal of import taxes on nine food items to lower prices for local consumers. The tax exemption applies to boneless frozen beef, roasted and unroasted coffee beans, corn (not for sowing), certain uncooked pasta, cookies, extra virgin olive oil, crude sunflower oil, cane sugar, and preserved sardines (limited to 7,500 tons). Taxes ranging between 7.2% and 32% have been lowered to 0% in a move to curb inflation. The measure is effective starting Friday. Authorities insisted it would only be for a limited time.
Thursday, March 13th 2025 - 18:17 UTC
Ireland donates to Brazil's Amazon Fund

Ireland has joined as the eighth donor to Brazil's Amazon Fund, contributing € 15 million, it was reported Thursday. The fund, managed by Brazil's National Bank for Economic and Social Development (BNDES), supports conservation, monitoring, and sustainable development in the Amazon and has financed 123 projects since 2009. In 2024 alone, R$ 200 million (US$ 34.4 million at the current exchange rate) was allocated, aiding efforts to reduce deforestation, which dropped over 45% compared to 2022. Environment Minister Marina Silva emphasized that Ireland's support recognizes Brazil's achievements in combating deforestation and climate change, while the fund continues to attract international partners committed to sustainability.