Journalist, Washington D.C.
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Mar 4, 2015

Brazil’s Rousseff races to contain Congress revolt over austerity

BRASILIA, March 4 (Reuters) – Brazil President Dilma
Rousseff on Wednesday raced to defuse a rebellion by legislators
upset about her budget austerity plans and her handling of a
corruption scandal at state-run oil company Petrobras.

Rousseff met with legislative leaders from her coalition
after they unexpectedly threw out a presidential decree that
would have raised payroll taxes and helped close a gaping hole
in Brazil’s budget.

Mar 4, 2015

Brazil’s Rousseff races to shield economy from Petrobras scandal

SAO PAULO/BRASILIA (Reuters) – Brazil’s President Dilma Rousseff raced on Wednesday to defuse a rebellion in Congress by legislators upset over her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras.

Rousseff was set to meet with legislative leaders from her coalition, her office said, after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil’s budget.

Mar 4, 2015

Petrobras scandal takes Brazilian politicians to Supreme Court

BRASILIA (Reuters) – Brazil’s top prosecutor asked the Federal Supreme Court on Tuesday to open investigations into politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz), a court official said on Tuesday.

The request for authorization to probe elected officials expands the country’s biggest corruption scandal to the political realm, further rattling President Dilma Rousseff’s administration at a time when it is already struggling to contain the economic fallout from the case.

Feb 25, 2015

Petrobras scandal about to hit Brazil’s political class

BRASILIA, Feb 25 (Reuters) – Brazil’s top prosecutor is
expected to file charges in coming days against politicians
implicated in the Petrobras corruption scandal, a political
bombshell that could involve members of Congress and President
Dilma Rousseff’s government.

Under Brazilian law, lawmakers and cabinet members can only
be tried by the Supreme Court. Prosecutor Rodrigo Janot has said
he plans to file cases with the court by the end of the month
against politicians involved in the graft scheme at Petrobras.

Feb 13, 2015

Rousseff’s austerity plan for Brazil runs into trouble with allies

BRASILIA, Feb 13 (Reuters) – President Dilma Rousseff’s
austerity push has run into stiff opposition from her own allies
in Congress that could derail her efforts to restore Brazil’s
fiscal credibility and avoid a damaging credit rating downgrade.

The leftist leader’s allies, including members of her own
Workers’ Party, are seeking to water down a first batch of
unpopular bills that trim unemployment and pension benefits and
save some 18 billion reais ($6.32 billion).

Feb 10, 2015

Brazil’s Rousseff under pressure but impeachment seen unlikely

BRASILIA (Reuters) – For the first time since a corruption scandal erupted at Brazil’s state-run oil company Petrobras last year, senior opposition politicians are publicly floating the possibility of impeaching President Dilma Rousseff.

She does not face an immediate risk of impeachment, leading opponents told Reuters, but that could change if prosecutors find evidence that Rousseff knew of or benefited from the massive graft scheme.

Feb 3, 2015

Brazil faces recession, Rousseff under pressure as drought drags on

BRASILIA/SAO PAULO, Feb 3 (Reuters) – A severe drought is
accelerating Brazil’s expected descent into recession, adding to
President Dilma Rousseff’s woes as she takes unpopular austerity
measures and faces economic fallout from a corruption scandal at
state-run oil company Petrobras.

Sao Paulo, Brazil’s largest city, has nearly run out of
water and the whole country faces power rationing as the worst
drought in more than 80 years dries up hydroelectric reservoirs.

Jan 29, 2015

Brazil’s central bank opens door to smaller rate hike in March

BRASILIA (Reuters) – Brazil’s central bank cemented expectations of another interest rate hike in March but suggested it could slow the pace of increases going forward, according to the minutes of its last monetary policy meeting released on Thursday.

The bank said it has not yet made sufficient progress in curbing price increases but noted inflation now looks more likely to ease towards the 4.5 percent target in 2016 after three consecutive interest rate hikes.

Jan 27, 2015

Brazil’s Rousseff urges cabinet to back belt-tightening

BRASILIA (Reuters) – Brazil’s President Dilma Rousseff urged her cabinet on Tuesday to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in her second term.

Rousseff stressed the need to rein in wasteful spending and to do more with less, a change of policy that investors want to see but that has caused frictions within the ruling Workers’ Party.

Jan 2, 2015

Insight – Failure to stop Petrobras scandal could haunt Brazil’s Rousseff

RIO DE JANEIRO/BRASILIA (Reuters) – When federal investigators first identified signs of corruption at Petrobras in 2009, Dilma Rousseff insisted Brazil’s state-run oil company had nothing to hide.

“Petrobras has one of the most accurate accounting standards in the world,” said Rousseff, who was then chairwoman of its board and is now Brazil’s president. “If it wasn’t the case, investors would not be seeking out the company as one of the great investment targets.”