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Brazil yet to decide on new fiscal target, minister says SAO PAULO: The Brazilian government has yet to make a decision on a lower fiscal target for this year, Planning and Budget Minister Nelson Barbosa said on Monday. Barbosa said the government is working to reignite investment growth but, for that, there is the need for less uncertainty and a long-term solution to high fiscal imbalances. He spoke on the sidelines of an event in S?o Paulo. Copyright Reuters, 2015 ...

Brazil president gets temporary impeachment reprieve BRASÍLIA: Brazilian President Dilma Rousseff won a temporary reprieve Tuesday from threatened impeachment thanks to a Supreme Court intervention and her principal opponent's decision to hold off for now on opening proceedings.Brazil's highest court slowed an expected rush to impeach Rousseff by ruling against lower house speaker Eduardo Cunha -- the man with the power to trigger impeachment -- on procedural questions.Cunha said the ruling did not affect the basis for impeachment but delayed his ...
Rousseff urges Brazil cabinet to focus on economy, minister says BRASILIA: Brazilian President Dilma Rousseff urged ministers at her first meeting with the new cabinet on Thursday to focus on the country's staggering economy, Chief of Staff Jaques Wagner said.The meeting was called by the president on Wednesday after the government failed for the fourth time to get enough support to hold a vote in Congress on whether to back or overturn Rousseff's vetoes of two spending bills despite a cabinet reshuffle last week meant ...
Brazil court hits Rousseff again, fueling impeachment talk BRASÍLIA: Brazil's President Dilma Rousseff suffered a major new setback Wednesday when a court ruled that her government's accounting practices were illegal, handing ammunition to opponents threatening impeachment proceedings.The decision by the Federal Accounts Court or TCU was the latest blow to Rousseff, less than a year into her second term. The court said that her government's accounting practices in 2014, including taking what amounted to unauthorized loans from state-owned banks to make up for ...
Brazil's Rousseff to be investigated for alleged funds misuse BRASÍLIA: President Dilma Rousseff's campaign will be investigated for alleged use of funds skimmed from the vast Petrobras corruption scheme, officials said Wednesday, in a twist that could potentially end her term early.The opposition Social Democratic Party of Brazil (PSDB) has filed five complaints, including one now accepted by a federal electoral body. Opposition lawmakers -- whose candidate lost in a tight race against Rousseff in 2014 -- say Rousseff of the Workers Party and ...
Brazil economy headed for steep contraction: IMF BRASÍLIA: The International Monetary Fund predicts a three percent shrinkage in Brazil's economy this year, with a further one percent in 2016, reflecting deepening trouble for Latin America's biggest country."In Brazil, business and consumer confidence continue to retreat in large part because of deteriorating political conditions, investment is declining rapidly, and the needed tightening in the macroeconomic policy stance is putting downward pressure on domestic demand," the IMF said in a global survey Tuesday. Copyright ...
Chile president declares huge Easter Island marine reserve VIÑA DEL MAR: Chilean President Michelle Bachelet opened an international conference on the protection of the oceans Monday with a pledge to create huge new marine reserves around Easter Island in the Pacific.To warm applause from delegates from around the world, Bachelet said her government would work with indigenous Rapa Nui to protect their waters from illegal exploitation while preserving their ancient fishing traditions.Copyright AFP (Agence France-Presse), 2015 ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln