GIS Dossier: Brazil’s crisis
Corruption is nothing new in Latin America, but the sheer scale and brazenness of graft among Brazil’s political and business elites has caused a powerful public backlash. While huge protests against abuse have galvanized the country’s civil society, the crisis has also revealed the strength of its democratic institutions and respect for due process.
Brazil: Corruption allegations engulf Temer
Until recently, President Michel Temer seemed an anomaly in Brazilian politics: he went unscathed by the Petrobras scandal and had scored several political victories despite low popularity. Now, all that has changed after a bombshell audio recording allegedly revealed his involvement in several instances of bribery. Isolated and under extreme pressure, Mr. Temer has vowed to fight on. If he does, it will likely drag out Brazil's political and economic crisis for months or even years.
Corruption in Latin America
Latin American countries have a long history of corruption, and the problem is as prevalent today as it ever was. Recent examples have shown that the rule of law and independent judiciaries can be a powerful bulwark against graft, but states in the region must do more.
Brazil’s economy starts to rebound as political crisis festers
As President Dilma Rousseff’s impeachment nears its final stage, Brazil remains stuck in a deep political crisis. Citizens do not trust their current leaders, including the acting president, but legal hurdles make an early election unlikely. The first signs of an economic rebound, however, brings hope for change in the political sphere as well.
Global trends: Latin America seeks growth as leaders straggle
Latin America has reached an inflection point. Recent developments suggest that parts of the region will make significant economic strides over the next few years. However, its two biggest economies – Brazil and Mexico – are stuck in the doldrums, and their politics may be in even worse shape. <i>This report is par...
Brazil braces for a rough ride, but its strengths remain
The drama of Brazil’s immense political and economic crisis has reached a sort of “ground zero” point, from which it can develop in any direction, leading to a positive or very negative outcome for the country. In early December 2015, Brazil’s Congress unexpectedly and abruptly moved to impeach President Dilma Rousseff. A...
As Brazil’s Rousseff reels from crisis, opportunity for reform emerges
Brazil is facing its worst crisis in 70 years. Its economy is mired deep in a recession that will last at least until 2017. The political scene is in disarray, with a president who was re-elected just a year ago now chastened by approval ratings in the single digits. No opposition leader or party is considered a viable replacement for the Workers’ Party, which has ...
Latin American economies in 2015: winners, political basket cases and dark horses
For the better part of the 21st century’s first decade, most Latin American economies were on hyperdrive made possible by a historic boom in demand for the raw materials they produced. Today, the bloom is off. Even so, the region has managed to avoid economic stagnation. With growth in 2015 expected at 2.2 per cent, Latin America continues to perform better than Eu...
Special report on trade talks between Mercosur and the European Union
The July summit of South America’s six-nation Mercosur group brought no progress in negotiations on a trade agreement with the European Union. While stagnant economies on both sides of the Atlantic could benefit from a pact, Brazil and Argentina, which have pursued highly protectionist regimes, must first reconcile their differences. A new government in Argentina m...
Brazil’s Petrobras problems could open new opportunities for foreign investment
Brazil’s President Dilma Rousseff, re-elected by a slim majority for a second term in October 2014 faces calls for her impeachment and public demonstrations as she experiences a perfect storm of problems. Major falls in the price of oil and commodities, the worst drought for 80 years, government economic policies and corruption in Brazil’s energy giant Petrobras, h...