Tag: Brazil

Tuesday, December 9th 2014 - 08:26 UTC
The man in charge of fighting corruption in Brazil resigns: “I've done my duty”

Comptroller General Jorge Hage, the man in charge of fighting corruption in the Brazilian government, announced his resignation amid a widening graft scandal centered on state-run oil company Petrobras. Hage said he sent President Dilma Rousseff his resignation letter a few weeks ago, after she won re-election for a second term in office.
Monday, December 8th 2014 - 11:12 UTC
Dilma Rousseff after quick transition in Finance given the fiscal deterioration

Brazil's new economic team headed by Joaquim Levy is expected to take office sometime in the next few days after the ruling coalition of President Dilma Rousseff finally managed Congress to approve a loosening of this year's budget targets including the crucial primary budget.
Thursday, December 4th 2014 - 05:09 UTC
Rousseff promises JPMorgan investors a balanced budget and full support of Levy

President Dilma Rousseff said in a letter to investors that one of the main priorities of her second term will be to put Brazil's fiscal accounts in order, sending a strong message that her administration will adopt more market-friendly policies.
Thursday, December 4th 2014 - 05:03 UTC
Brazil raised the basic interest rate 50 basic points to 11.75%

Brazil's central bank on Wednesday raised its key interest rate by 50 basis points to 11.75%. The rise came on the back of a one quarter point rise just over a month ago which was the first since April and in the wake of populist Dilma Rousseff's re-election as president, who last week appointed a new finance team to tackle rising inflation.
Wednesday, December 3rd 2014 - 08:15 UTC
Falklands' patrol vessels support, allegedly from Brazil and Chile, trigger debate in Argentina

Argentine opposition lawmakers expressed concern about alleged logistic support from Brazil and Chile to British warships and other auxiliary vessels in the South Atlantic and demanded the government of president Cristina Fernández report to Congress on the matter.
Wednesday, December 3rd 2014 - 08:06 UTC
Brazil posts in November its worst trade monthly result in 20 years

Brazil posted a 2.35 billion dollars trade deficit in November, the country's worst monthly result in 20 years, and cementing its slide into the red for the year after a decade of surpluses.
Tuesday, December 2nd 2014 - 06:01 UTC
Rousseff names another market-friendly minister to her new cabinet

Brazilian President Dilma Rousseff has named business leader Armando Monteiro to head the industry and trade ministry in a new sign of more market-friendly policies as she tries to restore investor confidence and reignite economic growth.
Friday, November 28th 2014 - 06:46 UTC
New Brazilian minister pledges realistic fiscal targets and balanced economic growth

Brazilian President Dilma Rousseff finally announced on Thursday the appointment of Joaquim Levy, as her next Finance minister who is also known as the 'scissors man', who pledged more realistic fiscal targets and promised more balanced economic growth.
Friday, November 28th 2014 - 06:38 UTC
Mercosur and EU could not establish a date for the exchange of new proposals

European Union and Mercosur representatives analyzed the current state of negotiations for an association and free trade agreement but could not establish a date for the exchange of new proposals because “the European Commission has yet not concluded the consultation process with member states to harmonize its proposal”.
Friday, November 28th 2014 - 06:13 UTC
Petrobras agrees to appoint a “governance, risk management and compliance” director

Brazil's oil and gas giant Petrobras (and currently immersed in a major corruption scandal) has decided the appointment of a director of governance, risk management and compliance mainly to ensure risk mitigation and ensure the repeat of situations of fraud and corruption, according to a release from the corporation.