Brazil

• Monday, October 24th 2016 - 17:55 UTC

  Brazil congressional police arrested accused of obstruction of justice

  

  Authorities say they have arrested four Congressional police agents posted inside Brazil's Senate for allegedly obstructing an investigation into lawmakers' suspected involvement in the corruption-kickback scheme at state-owned oil company Petrobras. Federal police said in a statement that those arrested Friday include Pedro Carvalho, head of the Senate police, which is a distinct agency.

• Monday, October 24th 2016 - 17:43 UTC

  Billions pour in to buy Argentine bonds, “sign of growing investor confidence”

  

  Argentina’s international currency reserves rose above the landmark US$40 billion for the first time in three and a half years last Friday, as a huge inflow of dollars from government-issued debt and some exports over the last few days caused some dramatic increases this week. The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”

• Friday, October 21st 2016 - 18:17 UTC

  Brazilian prosecution after another can of worms, the national development bank, BNDES

  

  Brazil’s national development bank has frozen $13.5bn of funds for 47 overseas projects, including those in Angola, Mozambique, Cuba and the Dominican Republic, as yet more corruption charges are brought against politicians and executives arising from the Lava Jato corruption probe.

• Friday, October 21st 2016 - 02:56 UTC

  Brazilian central bank lowers basic rate 0.25 points on more optimistic recovery data

  

  Brazil's central bank cut its key interest rate for the first time in more than three years on Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. The bank lowered the benchmark Selic rate by 0.25 points, to 14%, still one of the world's highest, and cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end.

• Thursday, October 20th 2016 - 21:11 UTC

  Brazilians reject fiscal discipline policy, and consider Temer's government “bad” or “terrible”

  

  Brazilians have become more dissatisfied with the way President Michel Temer is running their country, a new poll says, as his policy of fiscal discipline continues to generate more public discontent.

• Thursday, October 20th 2016 - 21:05 UTC

  Brazilian ex lawmaker who triggered fall of Rousseff arrested, and promises a “tell-all memoir”

  

  The corruption-related arrest of a former top Brazilian lawmaker on Wednesday threatens to revive political turmoil and snap the momentum of a government economic reform campaign. Eduardo Cunha was taken into police custody Wednesday on accusations of corruption and money laundering related to oil platform contracts with state-controlled Petrobras. He denies the accusations.

• Friday, October 14th 2016 - 09:25 UTC

  Lula will stand trial for allegations of corruption, money laundering and justice obstruction

  

  A federal judge in Brazil ruled on Thursday that former President Lula da Silva will stand trial for an alleged bribery scheme related to work by construction giant Odebrecht in Angola. It's the second time in less than a month that a federal judge has ruled that Lula, a two-term president who left office in 2011 as Brazil's most popular president must stand trial.

• Thursday, October 13th 2016 - 10:13 UTC

  Petrobras no longer an arm of government to control inflation, pledges CEO

  

  Petrobras is reading to announce a domestic fuel policy that will avert costly subsidies that drained profits during Brazil’s previous government, Chief Executive Officer Pedro Parente said in an interview. For years fuel prices were manipulated as part of the government's policy to keep inflation under control.

• Wednesday, October 12th 2016 - 11:53 UTC

  Brazil's Lower House approves by ample margin amendment to freeze spending

  

  Brazil's Lower House of Congress approved on Monday a document which is the base for a Proposed Constitutional Amendment (PEC) that would freeze federal spending for the next 20 years, a legislative priority for Michel Temer's government in 2016.

• Tuesday, October 11th 2016 - 08:52 UTC

  Brazil congress limiting Petrobras monopoly over subsalt oil resources

  

  Brazil's lower chamber of Congress approved this week the main points of a bill removing a requirement that state-led oil company Petrobras be the sole operator of vast offshore oil reserves in the costly subsalt layer with a minimum 30% stake in their development.