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Brazil’s Ex-President Lula Charged In Secret Petrobras Case, Report Says
Brazil’s prosecutor general has charged the former president Luiz Inacio Lula da Silva with participating in a scheme to buy the silence of a former executive at state-run oil company Petrobras, newspaper Estado de S.Paulo has reported. Lula’s name was included in the case against Senator Delcidio do Amaral, who in December was charged with … Continue reading
Brazil’s Impeachment Saga: Assessing A Potential Temer Administration
By Darli Magioni With the Brazil’s Senate likely to put President Dilma Rousseff on trial, South America’s biggest economy may well see its political leadership shift into the hands of current vice president Michel Temer. What, thus, is to be expected from a potential Temer Administration? A vote in the Senate that could force embattled … Continue reading
What Is The State Of The BRICS Economies?
By Mark Esposito, Amit Kapoor, Deepti Mathur The BRICS club (Brazil, Russia, India, China and South Africa), which used to be known for its tremendous growth potential, is today in the midst of severe economic and political woes. Apart from the Federal rate increase which has contributed to the mounting debt burden for these economies; falling … Continue reading
Emerging Markets: What Has Changed This Week?
By Marc Chandler, Marc to Market Blog China’s central bank may be leaning less dovish Turkey has a new central bank governor Argentina issued external debt for the first time since it defaulted 15 years ago Brazil’s lower house voted to impeach President Rousseff by a 367-137 vote In the EM equity space, Russia (+2.7%), Indonesia (+1.9%), … Continue reading
Mark Mobius: Emerging Markets Q1 2016 Recap – A Turn In Fortunes
By Mark Mobius, Templeton Emerging Markets Group The Templeton Emerging Markets Group has a wide investment universe to cover—tens of thousands of companies in markets on nearly every continent! While we are bottom-up investors, it helps to have some big-picture context. Here, I outline what’s happened in the emerging markets universe in the first three months of … Continue reading
If Dilma Rousseff Is Impeached, Brazil Faces Years Of Political Turmoil
By Marieke Riethof The lower house of Brazil’s National Congress has voted overwhelmingly to impeach President Dilma Rousseff for allegedly covering up the scale of the country’s budget deficit, sending the case to the upper house. As the vote was taken, anti-government demonstrations on the Avenida Paulista and outside the congress held aloft a giant inflatable … Continue reading
Rousseff’s Impeachment Alone Won’t Fix Brazil’s Economic Woes
By Yesenia Lugo The biggest party in the governing coalition abandoned President Dilma Rousseff last week, increasing the likelihood that the leader of Latin America’s biggest country will be impeached and opening up the country to uncertainty. The $3 billion dollar scandal that’s engulfed Brazil has its origin in a cluster of construction companies and politicians colluding … Continue reading
Rousseff Should Be Impeached, Brazil Congressional Report Recommends
The special investigator for a congressional commission recommended on Wednesday that the impeachment process against Brazil’s president, Dilma Rousseff, move forward, saying there was evidence she violated fiscal laws. “The facts show serious indications of unconstitutionality, illegality and fiscal irresponsibility,” Jovair Arantes said in a nearly 130-page report. Arantes’ conclusion had been widely anticipated because … Continue reading
Brazil’s ‘House Of Cards’ — The Whole World Is Watching
By Pepe Escobar As repellent political spectacles go, this compares to toxic events such as the 1973 Pinochet military coup in Chile and the 2003 U.S. Shock and Awe over Iraq. A woman president in Brazil is running the risk of being expelled from office — to which she was duly elected by 54.5 million people … Continue reading
Brazil’s Rousseff Closer To Impeachment As Coalition Partner Quits
President Dilma Rousseff’s hopes of seeing out her term of office have received a potentially fatal blow after the biggest party in the Brazilian congress voted to abandon her ruling coalition. The vote by the Brazilian Democratic Movement party (or PMDB) could trigger a defection from Rousseff’s coalition by other smaller parties, and greatly increase … Continue reading
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