Brazilian President Michel Temer criticized the government of neighboring Venezuela for leading that country into a crisis that is causing an exodus of refugees into northern Brazil. Brasilia has called for democratic reforms by Venezuelan President Nicolas Maduro, who has consolidated power as his country’s economic crisis deepens with shortages of food and medicine.
Brazilian Supreme Court Justice Luis Barroso asked for the head of the Federal Police to clarify comments he made in a Reuters interview published a day earlier regarding an investigation of President Michel Temer.
Brazil’s central bank cut its benchmark interest rate on Wednesday to a new low of 6.75%, but hinted it was now done with a historic easing cycle. The bank lowered the Selic rate by 0.25 percentage point, its 11th consecutive cut aimed at helping Latin America’s largest economy emerge from a stifling two-year recession.
With Brazil’s unpopular government battling to hold together a congressional coalition, President Michel Temer has been unlucky with his pick of cabinet ministers. Seven quit or were fired in his first year in office, four of them following allegations of wrongdoing. Among them, Geddel Vieira Lima, who was eventually arrested after police identified his fingerprints in an apartment filled with US$16 million in cash.
Brazilian Finance Minister Henrique Meirelles said on Monday that although there may be differences in strategy between president Michel Temer and the speaker of the House of Representatives, Rodrigo Maia, everyone's goal is to ensure the approval of the pension reform.
Brazil's popular but scandal-plagued leftist ex-president Luiz Inacio Lula da Silva got an unlikely morale boost on Monday from a political nemesis, current President Michel Temer. Lula easily leads the polls heading to October's presidential election but his dream of returning to office was left in doubt last week after an appeals court upheld an earlier corruption conviction against him.
Brazil's General Prosecutor of the Republic Raquel Dodge, is currently in London for a three-day visit sponsored by the UK government with the purpose of deepening and strengthening the leadership of both countries in the struggle against slavery.
Ms Dodge is accompanied in her mission by UK ambassador in Brazil, Vijav Rangarajan.
Brazil will head to the polls on October 7 in what is set to be the most polarizing presidential race in living memory. While the final ballot is beginning to take shape, there is still a question mark over the candidacy of former president Luiz Inácio Lula da Silva (Workers’ Party), who may be ineligible to run after his impending appeals court decision on charges of corruption. The imbroglio surrounding Lula guarantees that however the 2018 election turns out, both sides will feel they have reason to call foul play.
China invested US$20.9 billion in Brazil in 2017, the most since 2010 as a recession helped push down asset prices and attracted investors, according to Brazil’s planning ministry.The energy, logistics and agriculture sectors drew the most Chinese capital, including investments in Brazil’s rich pre-salt oil fields and China’s State Power Investment Corp US$2.25 billion deal to operate the São Simão hydropower plant.
Economic activity in Brazil expanded for a third straight month in November, the longest stretch of gains since 2014, suggesting strong momentum at the end of the year. The central bank’s economic activity index rose 0.49% from October after seasonal adjustments