Rousseff

Anadolu Agency

LONDON — Brazil’s economy will shrink by nearly 3 percent in 2016, according to estimates published Monday in a weekly central bank survey of 100 of the country’s economic institutions.

Gross domestic product in Latin America’s largest economy will contract by 2.95 percent in the thirteenth consecutive cut in the outlook for 2016.

The predictions are more than previously expected by economists, as economic output and confidence continue to dwindle amid a prolonged political crisis.

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SÃO PAULO — Joaquim Levy stepped down as Brazil’s finance minister on Friday evening, ending months of speculation over his role. He was replaced by former planning minister Nelson Barbosa, who is seen as closer to leftist President Dilma Rousseff.

Levy was a proponent of tough fiscal measures which he backed to lift Brazil out of the worst recession it has experienced in 25 years.

His appointment and fiscal adjustment plans had been warmly welcomed by the markets, and was widely seen as an attempt by the government to draw greater confidence in the Brazilian economy from investors.

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VICE News

SÃO PAULO — The end may be in sight for Dilma Rousseff’s presidency after impeachment proceedings were authorized on Wednesday by the speaker of Brazil’s lower house of Congress.

Eduardo Cunha’s decision to fire the starting pistol marks a first tentative step in a process that, even if supported by Congress, could take months, though some analysts suggest the president may feel forced to resign before it is completed.

Cunha accepted one of several requests to begin impeachment that had been in his office for weeks. They were widely reported to have been put on ice amid back room bargaining in which he promised to protect the president if his speakership was not threatened by accusations of corruption against him.

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VICE News

SÃO PAULO — Two court rulings in two days have raised the real possibility that Brazil’s already beleaguered president, Dilma Rousseff, could face impeachment proceedings.

The most immediate challenge comes from Wednesday’s ruling by Brazil’s top audit court that the government manipulated its 2014 accounts. The court said the book-cooking was aimed at covering up a widening fiscal deficit in order to justify maintaining social spending ahead of Rousseff’s narrowly-won reelection last October.

Rousseff summoned ministers to a meeting on Thursday to discuss the judgment’s implications.

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VICE News

SÃO PAULO — Five years ago, the United States Supreme Court delivered a decision in the case of Citizens United v. Federal Election Commission that allowed corporations to devote virtually unlimited funds to political campaigns, provided that they were spent independently of candidates and political parties.

On Thursday, a ruling by Brazil’s Supreme Federal Court did the exact opposite, prohibiting businesses from financing campaigns in a move that has been hailed as crucial to the fight to rid Brazilian politics of rampant corruption.

Although touted by good governance advocates as vital to the fight against graft and malfeasance, others believe the development in Brazil will simply force campaign cash under the table.

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Anadolu Agency

SÃO PAULO — Hundreds of thousands of people took to the streets across Brazil on Sunday in protests against President Dilma Rousseff and her government.

Demanding an end to corruption in Rousseff’s multi-party government, many demonstrators called for Rousseff to be impeached.

Local media reported protests in more than 200 major cities across the country – the third such nationwide outpouring of dissent this year.

Police put crowds nationwide at 879,000 — more than in a similar protest in March but fewer than at one held in April.

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VICE News

SÃO PAULO — Brazil announced to much fanfare this week plans to zero illegal deforestation on its territory by 2030 and restore an area of rainforest the size of Pennsylvania. But experts say the plans are unambitious and activists called the promises “a crushing disappointment” that mounted to nothing more than targets already stipulated by Brazilian law.

Climate change was among the headlining issues in a joint declaration made Tuesday by Brazilian President Dilma Rousseff and US President Barack Obama at the White House.

“We have committed to reach … a zero illegal deforestation rate between now and 2030,” Rousseff said, describing climate change as “one of the world’s central challenges for the 21st Century.”

Rousseff also vowed Brazil would restore 120,000 square kilometers (46,330 square miles) of forest over the same period.

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Press TV

SÃO PAULO Brazilian President Dilma Rousseff and Chinese Premier Li Keqiang have signed $53 billion of agreements in a range of areas, including infrastructure, agriculture and energy, in what is being hailed as a new era in Sino-Brazilian relations.

The new wave of Chinese investment in Brazil has come at an opportune moment, as the Brazilian economy continues to struggle and a vast corruption scandal at Petrobras bears down on both the political world and the country’s top construction companies.