The presence of President Hugo Chavez at Friday’s Mercosur summit is “uncertain” reported the official Brazilian news agency on Wednesday adding that the organizers are waiting for a confirmation of his trip to Brasilia.
The Brazilian government extended tax breaks to the country's construction industry in a new effort to encourage investment and boost flagging growth which is putting pressure on the government to further include other stimuli measures.
Brazil on Friday reported slower than expected economic growth in the third quarter putting more pressure on President Dilma Rousseff to make deeper structural reforms and adding to fears that the global slowdown is reaching big emerging markets.
The presence this week of Brazilian president Dilma Rousseff next to Cristina Fernandez at Argentina’s Industrial Union, UIA annual conference was considered a major integration success and highlights the growing interaction of the two leading Mercosur partners.
President Cristina Fernández de Kirchner ratified on Wednesday that Argentina will continue to pay all its financial obligations and described as “absolutely unfair” the ruling from Judge Thomas Griesa who favoured the hedge funds to the detriment of 93% of bondholders who joined the 2005 and 2010 debt swaps.
Brazilian president Dilma Rousseff has cancelled her attendance to the Union of South American Nations, Unasur summit in Peru on Friday because of “agenda problems” and previous “domestic engagements”, according to the Planalto press secretary office. Vice-president Michel Temer will be attending in her name.
The head of Brazil’s Justice and Human Rights Movement, Jair Krischke stated before the Truth Committee that it was the Brazilian dictatorship which master minded the notorious Plan Condor, the South American military dictatorships undercover trans-border organization of the sixties and seventies.
Brazilian Executive special advisor on International Affairs, Marco Aurelio Garcia anticipated that at the coming summit in Lima, the Union of South American Nations, Unasur, would not lift the suspension on Paraguay which will hold until April’s election.
Thousands of people took to the streets in Rio do Janeiro on Monday to urge Brazilian President Dilma Rousseff to veto a bill that local officials say could cost Rio state billions of dollars in lost oil revenue, and cripple plans to host the World Cup and Olympics.
The European Union, United States and Japan presented a formal complaint before the World Trade Organization questioning the legitimacy of some measures adopted by Brazil to protect domestic manufacturing, particularly in the auto industry.