Brazil’s Economy Ministry warned that the economy will slip into recession next year and official interest rates could more than double unless Congress approves measures to reduce the deficit in the country’s pension system.
The senator son of Brazilian President Jair Bolsonaro is under investigation by federal authorities for money laundering in connection to unexplained increases in his net worth, the prosecutor general’s office said on Thursday.
Brazilian President Jair Bolsonaro delivered his proposed pension overhaul to Congress on Wednesday, aiming to save over 1 trillion reais (US$270 billion) in a decade by changing tax rates, delaying retirement and creating individual savings accounts.
Chile’s LATAM Airlines Group SA has asked Brazil’s antitrust regulator Cade to boost its voting stake in LATAM Airlines Brazil to 51%, formalizing a controlling interest in Brazil’s No. 2 airline that for years it was unable to achieve because of local restrictions.
Brazilian President Jair Bolsonaro on Monday fired one of his most senior aides and cabinet members, Gustavo Bebianno, amid a scandal involving campaign financing for some of his party's congressional candidates. Bebianno was secretary general of the president's office.
Brazilian President Jair Bolsonaro, one of his politician sons and his ultraconservative party were embroiled in a crisis on Sunday over a campaign finance scandal threatening the leader's anti-corruption image. The 63-year-old far-right president, who is just six weeks into his mandate, spoke with top officials in his government on Friday and Saturday to try to draw a line under the affair, after key allies turned on him.
Brazilian Vice President Hamilton Mourao said on Thursday that the president will have to rein in his sons after one of them called a minister a liar on social media, exacerbating tensions in a new government dealing with its first big cabinet scandal.
Brazil's President Jair Bolsonaro left hospital on Wednesday, ending a 17-day hiatus at the helm of Latin America's biggest economy during which several high-profile political issues were put on the backburner.
Brazil is going through a rudderless period as President Jair Bolsonaro lies in a hospital bed following stomach surgery, with high-priority political issues such as pension reform on the backburner until he recovers, analysts and observers say. The limbo, which has lasted more than two weeks, might finally be coming to an end this week, according to reports.
Brazilian environmental groups on Tuesday blasted President Jair Bolsonaro's environment minister after he dismissed the murdered Amazon rain forest defender Chico Mendes as irrelevant.