Brazil’s Vice President Michel Temer in a personal letter criticized Dilma Rousseff’s disdain for him, aggravating a political crisis amid opposition efforts to remove her from office. In the letter published by all major newspapers in the country, Temer said Rousseff never trusted him and gave several examples of how she had ignored him for... Continue Reading →

Brazil’s President Dilma Rousseff on Monday stepped up efforts to protect her mandate as legislators choose members of a committee that will recommend whether to impeach her. The full lower house of Congress is scheduled to vote Monday evening whether to accept the 65 members of the committee who are nominated by party leaders. The committee... Continue Reading →

Brazil won’t have room to cut interest rates next year as inflation remains above the upper limit of the target in spite of a deepening back-to-back recession, according to a central bank survey. Policy makers will keep the benchmark interest rate on hold at 14.25 percent next year, compared to a forecast of 14.13 percent... Continue Reading →

The real dropped 0.3 percent to 3.7629 per dollar at 9:46 a.m. in Sao Paulo. The currency has tumbled 29 percent this year, the most among major tenders, amid concern that Brazil’s political turmoil could exacerbate the recession and cause the nation’s finances to deteriorate further. Brazilian analysts expect the economy to contract 3.5 percent... Continue Reading →

http://www.ft.com/cms/s/0/ec086668-99ed-11e5-9228-87e603d47bdc.html#ixzz3tNjwYn4O December 4, 2015 7:10 pm Corruption, economic crisis and impeachment Yet Brazil’s agony holds a positive lesson for the rest of the world   Brazil is no stranger to volatility and upset. Even so, the events of the past two weeks — from the imprisonment of a billionaire banker, to the president’s possible impeachment — are breathtaking. Nor... Continue Reading →

  President Dilma Rousseff on Friday suffered two setbacks to her fight against impeachment, as a minister from her main coalition ally resigned and the Supreme Court quashed appeals from supporters seeking to stop the impeachment process. Though not momentous enough to reverse the likelihood that Rousseff can stop impeachment proceedings launched against her in... Continue Reading →

Reuters/Dec 4, 2015 Brazil's Supreme Court rejected appeals from President Dilma Rousseff's allies to stop the impeachment process launched against her this week in the Lower House of Congress, the court said on Friday. Justices Celso de Mello and Gilmar Mendes rejected two appeals from lawmakers in the ruling coalition, including one filed by congressmen... Continue Reading →