The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Brazil's President Dilma Rousseff is fighting for political survival less than a year after being re-elected. Several reasons have been pointed exhaustively to explain how things got so bad in such a short period of time: chief among them are the burgeoning corruption scandal at state-run Petrobras and stubbornly high inflation, out of sync with the rest of the world.
from Global Investing:
It was a gloomy, rainy night in Boston last week where emerging market analysts and portfolio managers huddled together before an audience of 75+ people to discuss an equally gloomy situation in Venezuela, specifically whether or not the nation, with the biggest proven oil reserves in the world, is on the precipice of defaulting on its debt.
from Photographers' Blog:
By Carlos Garcia Rawlins
For a year or so now, we photographers have been illustrating Venezuela’s economic crisis with photos of empty shelves and queues forming outside supermarkets. But now I wanted to do something different.