IBOV 175,334.46 ▲ 0.74% IPSA 10,964.11 ▲ 0.12% IPC MEX 67,183.26 ▲ 1.20% MERVAL 3,305,316 ▲ 0.65% COLCAP 2,282.91 ▲ 0.37% BVL PERÚ 57,237.60 — — USD/BRL5.11▼ 0.05% USD/MXN17.47▲ 0.11% USD/CLP939.74▼ 0.97% USD/COP3,205▼ 0.36% USD/PEN3.40▼ 0.02% USD/ARS1,497▼ 0.03% USD/UYU40.15▲ 1.29% USD/PYG6,020▲ 1.46% USD/BOB11.32▲ 3.54% USD/DOP58.07▲ 0.90% USD/CRC449.99▲ 1.60% USD/GTQ7.62▲ 2.19% USD/HNL26.75▲ 1.51% USD/NIO36.62▲ 0.69% USD/VES740.95▼ 0.05% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.26% USD/TTD6.75▲ 1.35% EUR/BRL5.81▲ 0.50% BRENT 86.68 ▼ 1.90% WTI 81.24 ▼ 1.66% IRON ORE 161.91 — — COPPER 6.33 ▼ 0.17% GOLD 4,050 ▼ 0.61% SILVER 57.67 ▼ 1.38% SOY 1,209 ▲ 0.06% CORN 474.50 ▲ 5.04% WHEAT 654.50 ▼ 0.83% COFFEE 305.50 ▼ 2.64% SUGAR 14.60 ▲ 0.14% ORANGE JUICE 141.40 ▼ 0.25% COTTON 79.94 ▲ 0.76% COCOA 5,298 ▼ 1.45% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.63 ▲ 1.21% PETR4 41.01 ▼ 2.84% VALE3 75.69 ▲ 0.60% ITUB4 42.69 ▲ 1.40% BBDC4 18.71 ▲ 1.24% ABEV3 15.86 ▲ 1.41% BBAS3 20.50 ▲ 0.74% B3SA3 15.72 ▲ 1.81% WEGE3 46.40 ▲ 0.89% PRIO3 55.71 ▼ 5.29% SUZB3 41.87 ▲ 0.07% RENT3 37.72 ▲ 2.25% AZZA3 17.11 ▲ 2.76% CSAN3 3.95 ▲ 3.95% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 1.79% GMAT3 3.83 ▲ 1.06% PSSA3 54.29 ▼ 0.89% CVCB3 1.36 ▲ 1.49% POSI3 3.52 ▼ 0.85% SLCE3 13.38 ▼ 1.91% NATU3 8.49 ▲ 1.31% BRKM5 6.08 ▼ 0.33% RANI3 7.93 ▼ 0.25% CSNA3 5.71 ▲ 6.53% CMIN3 5.80 ▲ 1.93% USIM5 8.61 ▲ 1.53% GGBR4 24.48 ▲ 0.91% ENEV3 25.47 ▲ 2.29% CPFE3 44.75 ▼ 0.75% CMIG4 11.17 ▲ 1.73% EQTL3 38.80 ▲ 1.20% VIVT3 36.11 ▲ 2.26% RAIL3 13.80 ▲ 1.69% KLABIN 17.68 ▲ 0.91% RAIA DROGASIL 18.17 ▲ 1.06% RDOR3 33.60 ▲ 0.66% HAPV3 10.19 ▲ 2.72% FLRY3 16.53 ▲ 1.66% SMTO3 14.67 ▼ 2.52% UGPA3 32.09 ▼ 1.90% VBBR3 34.50 ▼ 1.71% BBSE3 40.54 ▼ 2.29% BPAC11 55.55 ▲ 1.61% CURY3 30.39 ▲ 3.54% AERI3 2.05 ▲ 0.49% VIVARA 22.01 ▲ 2.75% COMPASS 25.30 ▲ 2.18% VAMOS 3.17 ▲ 0.63% SANB11 27.36 ▲ 3.87% ASAI3 8.11 ▲ 3.31% SBSP3 28.87 ▲ 1.73% WALMEX 48.52 ▲ 0.92% GMEXICO 209.50 ▲ 1.07% FEMSA 230.17 ▲ 3.68% CEMEX 21.37 ▲ 0.90% GFNORTE 196.59 ▲ 2.25% BIMBO 59.24 ▲ 1.59% TELEVISA 9.93 ▲ 1.22% AMX 22.49 ▼ 1.40% GAP 377.40 ▲ 0.10% ASUR 268.57 ▲ 0.30% OMA 228.74 ▲ 1.15% KOF 189.00 ▲ 5.35% GRUMA 267.85 ▼ 0.01% KIMBER 39.92 ▲ 0.71% SQM-B 64,650 ▼ 1.07% COPEC 6,249 ▼ 1.28% BSANTANDER 80.77 ▲ 1.83% FALABELLA 6,155 ▲ 2.75% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,915 ▼ 2.20% CMPC 1,040 ▲ 1.41% BANCO CHILE 193.26 ▲ 0.08% LATAM AIR 24.60 ▲ 3.02% YPF 81,225 ▼ 0.95% GGAL 7,960 ▲ 0.89% PAMPA 5,475 ▼ 0.73% TXAR 675.00 ▲ 0.15% ALUAR 984.50 ▲ 1.29% TGS 9,710 ▼ 0.56% CEPU 2,383 ▲ 0.76% MIRGOR 16,825 ▲ 1.82% COME 42.46 ▲ 0.12% LOMA NEGRA 3,700 ▲ 2.49% BYMA 302.75 ▲ 0.75% TELECOM ARG 4,490 ▲ 2.51% ECOPETROL 15.80 ▼ 1.31% BANCOLOMBIA 87.93 ▲ 2.23% GRUPO AVAL 4.82 ▲ 0.84% CREDICORP 390.99 ▲ 0.66% SOUTHERN COPPER 179.32 ▲ 0.02% MERCADOLIBRE 1,820 ▲ 1.02% NUBANK 14.53 ▲ 3.12% XP 16.74 ▲ 0.30% PAGSEGURO 9.38 ▲ 1.96% STONE 10.89 ▲ 1.21% GLOBANT 32.64 ▲ 4.28% TECNOGLASS 45.44 ▲ 0.31% GAP AIRPORT 216.27 ▼ 0.00% ASUR 268.57 ▲ 0.30% OMA AIRPORT 104.80 ▲ 1.32% AMX ADR 25.70 ▼ 1.19% FEMSA ADR 132.15 ▲ 3.96% CEMEX ADR 12.21 ▲ 1.24% PETROBRAS ADR 18.00 ▼ 4.10% VALE ADR 14.78 ▼ 0.07% ITAU ADR 8.37 ▲ 1.09% SANTANDER BR 5.44 ▲ 2.64% AMBEV ADR 3.07 ▲ 0.33% CSN 1.12 ▲ 3.70% GERDAU 4.83 ▲ 0.42% LATAM ADR 52.27 ▲ 4.23% BTC 63,436 ▼ 0.45% ETH 1,882 ▼ 0.46% SOL 73.23 ▼ 1.23% XRP 1.05 ▼ 0.96% BNB 565.10 ▼ 0.11% ADA 0.16 ▲ 1.01% DOGE 0.07 ▼ 0.39% AVAX 6.44 ▲ 0.69% LINK 8.31 ▼ 0.65% DOT 0.76 ▼ 0.05% LTC 46.38 ▲ 0.83% BCH 212.54 ▲ 0.39% TRX 0.32 ▼ 0.02% XLM 0.17 ▲ 0.20% HBAR 0.07 ▼ 0.45% NEAR 1.67 ▼ 0.62% ATOM 1.30 ▲ 0.06% AAVE 97.06 ▼ 0.81% SELIC 14.25% EMBRAER 86.90 ▲ 5.33% EMBRAER ADR 67.99 ▲ 4.71% JBS 13.55 ▲ 10.34% JBS BDR 69.23 ▲ 11.59% MBRF3 15.89 ▲ 7.08% MBRFY 2.96 ▲ 0.68% LREN3 13.73 ▲ 3.47% INTER 5.56 ▲ 5.10% BUENAVENTURA 31.72 ▲ 2.62% EGX 53,956 ▲ 0.60% USD/ZAR16.77▲ 0.06% USD/NGN 1,361 — 0.00% NIKKEI 62,365 ▼ 3.95% CSI300 4,570 ▼ 2.83% HSI 25,304 ▲ 0.38% NIFTY 23,982 ▼ 0.06% KOSPI 6,024 ▼ 10.84% JCI 6,164 ▼ 0.35% USD/JPY163.78▲ 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4,050 ▼ 0.61% SILVER 57.67 ▼ 1.38% SOY 1,209 ▲ 0.06% CORN 474.50 ▲ 5.04% WHEAT 654.50 ▼ 0.83% COFFEE 305.50 ▼ 2.64% SUGAR 14.60 ▲ 0.14% ORANGE JUICE 141.40 ▼ 0.25% COTTON 79.94 ▲ 0.76% COCOA 5,298 ▼ 1.45% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.63 ▲ 1.21% PETR4 41.01 ▼ 2.84% VALE3 75.69 ▲ 0.60% ITUB4 42.69 ▲ 1.40% BBDC4 18.71 ▲ 1.24% ABEV3 15.86 ▲ 1.41% BBAS3 20.50 ▲ 0.74% B3SA3 15.72 ▲ 1.81% WEGE3 46.40 ▲ 0.89% PRIO3 55.71 ▼ 5.29% SUZB3 41.87 ▲ 0.07% RENT3 37.72 ▲ 2.25% AZZA3 17.11 ▲ 2.76% CSAN3 3.95 ▲ 3.95% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 1.79% GMAT3 3.83 ▲ 1.06% PSSA3 54.29 ▼ 0.89% CVCB3 1.36 ▲ 1.49% POSI3 3.52 ▼ 0.85% SLCE3 13.38 ▼ 1.91% NATU3 8.49 ▲ 1.31% BRKM5 6.08 ▼ 0.33% RANI3 7.93 ▼ 0.25% CSNA3 5.71 ▲ 6.53% CMIN3 5.80 ▲ 1.93% USIM5 8.61 ▲ 1.53% GGBR4 24.48 ▲ 0.91% ENEV3 25.47 ▲ 2.29% CPFE3 44.75 ▼ 0.75% CMIG4 11.17 ▲ 1.73% EQTL3 38.80 ▲ 1.20% VIVT3 36.11 ▲ 2.26% RAIL3 13.80 ▲ 1.69% KLABIN 17.68 ▲ 0.91% RAIA DROGASIL 18.17 ▲ 1.06% RDOR3 33.60 ▲ 0.66% HAPV3 10.19 ▲ 2.72% FLRY3 16.53 ▲ 1.66% SMTO3 14.67 ▼ 2.52% UGPA3 32.09 ▼ 1.90% VBBR3 34.50 ▼ 1.71% BBSE3 40.54 ▼ 2.29% BPAC11 55.55 ▲ 1.61% CURY3 30.39 ▲ 3.54% AERI3 2.05 ▲ 0.49% VIVARA 22.01 ▲ 2.75% COMPASS 25.30 ▲ 2.18% VAMOS 3.17 ▲ 0.63% SANB11 27.36 ▲ 3.87% ASAI3 8.11 ▲ 3.31% SBSP3 28.87 ▲ 1.73% WALMEX 48.52 ▲ 0.92% GMEXICO 209.50 ▲ 1.07% FEMSA 230.17 ▲ 3.68% CEMEX 21.37 ▲ 0.90% GFNORTE 196.59 ▲ 2.25% BIMBO 59.24 ▲ 1.59% TELEVISA 9.93 ▲ 1.22% AMX 22.49 ▼ 1.40% GAP 377.40 ▲ 0.10% ASUR 268.57 ▲ 0.30% OMA 228.74 ▲ 1.15% KOF 189.00 ▲ 5.35% GRUMA 267.85 ▼ 0.01% KIMBER 39.92 ▲ 0.71% SQM-B 64,650 ▼ 1.07% COPEC 6,249 ▼ 1.28% BSANTANDER 80.77 ▲ 1.83% FALABELLA 6,155 ▲ 2.75% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,915 ▼ 2.20% CMPC 1,040 ▲ 1.41% BANCO CHILE 193.26 ▲ 0.08% LATAM AIR 24.60 ▲ 3.02% YPF 81,225 ▼ 0.95% GGAL 7,960 ▲ 0.89% PAMPA 5,475 ▼ 0.73% TXAR 675.00 ▲ 0.15% ALUAR 984.50 ▲ 1.29% TGS 9,710 ▼ 0.56% CEPU 2,383 ▲ 0.76% MIRGOR 16,825 ▲ 1.82% COME 42.46 ▲ 0.12% LOMA NEGRA 3,700 ▲ 2.49% BYMA 302.75 ▲ 0.75% TELECOM ARG 4,490 ▲ 2.51% ECOPETROL 15.80 ▼ 1.31% BANCOLOMBIA 87.93 ▲ 2.23% GRUPO AVAL 4.82 ▲ 0.84% CREDICORP 390.99 ▲ 0.66% SOUTHERN COPPER 179.32 ▲ 0.02% MERCADOLIBRE 1,820 ▲ 1.02% NUBANK 14.53 ▲ 3.12% XP 16.74 ▲ 0.30% PAGSEGURO 9.38 ▲ 1.96% STONE 10.89 ▲ 1.21% GLOBANT 32.64 ▲ 4.28% TECNOGLASS 45.44 ▲ 0.31% GAP AIRPORT 216.27 ▼ 0.00% ASUR 268.57 ▲ 0.30% OMA AIRPORT 104.80 ▲ 1.32% AMX ADR 25.70 ▼ 1.19% FEMSA ADR 132.15 ▲ 3.96% CEMEX ADR 12.21 ▲ 1.24% PETROBRAS ADR 18.00 ▼ 4.10% VALE ADR 14.78 ▼ 0.07% ITAU ADR 8.37 ▲ 1.09% SANTANDER BR 5.44 ▲ 2.64% AMBEV ADR 3.07 ▲ 0.33% CSN 1.12 ▲ 3.70% GERDAU 4.83 ▲ 0.42% LATAM ADR 52.27 ▲ 4.23% BTC 63,436 ▼ 0.45% ETH 1,882 ▼ 0.46% SOL 73.23 ▼ 1.23% XRP 1.05 ▼ 0.96% BNB 565.10 ▼ 0.11% ADA 0.16 ▲ 1.01% DOGE 0.07 ▼ 0.39% AVAX 6.44 ▲ 0.69% LINK 8.31 ▼ 0.65% DOT 0.76 ▼ 0.05% LTC 46.38 ▲ 0.83% BCH 212.54 ▲ 0.39% TRX 0.32 ▼ 0.02% XLM 0.17 ▲ 0.20% HBAR 0.07 ▼ 0.45% NEAR 1.67 ▼ 0.62% ATOM 1.30 ▲ 0.06% AAVE 97.06 ▼ 0.81% SELIC 14.25% EMBRAER 86.90 ▲ 5.33% 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Business - Brazil Politics - Brazil

President Rousseff Takes Stand on Corruption

By · August 23, 2011 · 3 min read

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By Patricia Maresch, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – President Rousseff is demonstrating a desire to end a level of institutionalized corruption inherited from a long and often embarrassing past. A recent wave of corruption scandals and ministerial resignations has motivated Rousseff to take a stand against corruption, and the impunity that for years has characterized Brazilian governments. Her actions are dubbed “faxina: the cleanup.

President Rousseff speaks during the inauguration of the new Agriculture Minister, Mendes Ribeiro, Brazil News
President Rousseff speaks during the inauguration of the new Minister of Agriculture, Mendes Ribeiro, photo by Antonio Cruz/ABr.
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Rousseff proclaimed: “It is my duty as President of all Brazilians to see an end to the impunity which shelters many of those accused of involvement in corruption practices,” and added: “We will punish all abuses and excesses.”

After just eight months in office, the Rousseff administration has lost four ministers and a string of high government officials and advisers: a new record in Brazilian democracy.

Last week the Minister of Agriculture resigned, saying he was the target of “A hailstorm of false accusations.” According to news reports, a lobbyist allegedly paid bribes and influenced public tenders in order to put certain companies in favor with the Ministry of Agriculture.

Shortly before, the Minister of Tourism and his deputy resigned on suspicion of stealing public money intended for training hotel staff ahead of the 2014 football World Cup. The Federal Police have made over a dozen arrests in the face of ongoing investigations.

Corruption allegations also surfaced against Transportation Minister Alfredo Nascimento. Rousseff swiftly removed him from his post in July. Her Chief of Staff also stepped down in June in a scandal surrounding his personal wealth.

Amid the corruptions scandals, Rousseff also sent her Defense Minister home, after he publicly insulted some members of her administration in an interview. While not related to illegal activities, it showed Rousseff’s determination to run a tight ship.

Despite the fact that no criminal convictions have yet been made, Rousseff’s firm reaction has led political analysts to believe that there is indeed a change taking place in Brasília’s political power-play. “The most surprising element of all these scandals is Rousseff’s follow-through,” says Latin America-specialist, Canadian Gregory Michener: “In the past, scandals broke, leaders admitted no wrongdoing, insisted on getting back to the business of governing, and chastised the news media for its impudence.”

PR-member Lincoln Portela, photo by Valter Campanato/ABr
PR-member Lincoln Portela, photo by Valter Campanato/ABr.

Rousseff’s reward for the “faxina” has been signs of mutiny in her multi-party coalition. The party of fired Minister Nascimento’s (Party of the Republic, PR) stepped out of the coalition. PR-member Portela said his party will now adopt a ‘critical support’ attitude towards the administration.

According to political commentator Rudolfo Lago, some influential members of Rousseff’s biggest coalition-partner, the Party of the Brazilian Democratic Movement (PMDB), consider the president as dangerously naive, and believe she may have started something she cannot stop. “[Like] something that happened to Mickey Mouse in the Walt Disney cartoon The Sorcerer’s Apprentice [Fantasia]: the brooms came to life and began to clean up on their own, with an intensity far greater than Mickey liked, or intended,” Lago says.

PMDB is the president’s key congressional ally: without it’s support Rousseff will probably not be able to approve legislation in Congress. The president has a reputation of being an excellent economic no-nonsense manager, but sometimes appears to be struggling with the diplomatic part of the job.

Many political analysts believe that much of Brazil’s social and economical development will depend on whether Rousseff can impose her authority on her allies and calm tensions within the coalition. If she succeeds the potential gains could be enormous for the “country of tomorrow.”

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