A culture of corruption and a weak judicial system hinder Petrobras probe by Enrique Xavier López In Giant—George Stevens’ 1956 Hollywood blockbuster—oil tycoon Jett Rink, played by 24-year-old James Dean, is a man blinded by greed and corruption. In this classic rise-and-fall story, Rink is able to extend his wealth and influence beyond the oil business,… Read More Despite protests and widespread scrutiny, Brazil continues to face ‘giant’ dilemma
by Cassiano Alves and Leticia Corrêa On June 28th, President Dilma Rousseff landed in the United States for an official visit, leaving behind an economy in imminent recession and a country in political crisis after the corruption scandal involving state-owned oil company Petrobras. Speculation over Mrs. Rousseff’s impeachment resurfaced after a national magazine reported that… Read More Will Dilma Rousseff be able to foster foreign direct investment to save the fiscal package and resume economic growth?
Brazil is in crisis. The economy shrank 0.2 percent in the first quarter, and the forecast is for negative growth of 1.2 percent this year. Unemployment rate reached 6.4 percent in April, its highest level in four years. There is also pessimism on consumer prices, raising the 2015 inflation forecast from 7.93 percent to 8.12… Read More New Infographic Series on the Economic and Political Situation in Brazil
by Leonardo Petronilha March 15, 2015 was marked as a Sunday of protests all across Brazil against Dilma Rousseff’s—from the Partido dos Trabalhadores (Workers’ Party)—government. One of the most vaunted demands was for impeachment proceedings to be opened against the President of the Republic. First, it’s important to call attention to the fact that we live… Read More The Protests in Brazil: Dialogue as a Necessary Alternative
by Tina Evaristo The disclosure last year of what was apparently just a bad business done by Petrobras – the Brazilian semi-public oil company – evolved and became one of the biggest corruption scandal to hit the country after the reinstatement of democracy in 1988. The Brazilian Supreme Court has authorized the investigation of more… Read More Petrobras: a tail of dirty politics, heavy corruption and an absent Board of Directors