Samba Schools in Brazil Shine Despite Economic Woes

Samba Schools in Brazil Shine Despite Economic Woes

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – With the wailing economy and the devaluation of the Brazilian real in relation to the U.S. dollar, Rio de Janeiro samba schools had to scramble and use their creativity to work the same magic with less money. Companies and government funds for this year’s […]

Economy Forces Smaller Cities in Brazil to Cancel Carnival

Economy Forces Smaller Cities in Brazil to Cancel Carnival

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – While hundreds of thousands of Carnival-goers flock to streets of Rio de Janeiro and São Paulo, many smaller cities have cancelled or drastically reduced the traditional festivities due to the economic woes faced by the country. For the administrators who run these smaller cities, the […]

Brazil Announces R$83 Billion Plan to Jumpstart Economy

Brazil Announces R$83 Billion Plan to Jumpstart Economy

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian government announced on Thursday measures to boost production and recover the country’s growth, including a credit injection of R$83 billion (US$20.4 billion) into the economy. Among the measures announced are investments in infrastructure and more available credit from state-run banks to small and […]

Brazil Unemployment Up 38% to Same Quarter in 2014

Brazil Unemployment Up 38% to Same Quarter in 2014

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Unemployment rate in Brazil for the quarter ending in October of 2015 increased by nine percent, according to the IBGE’s (Brazilian Statistics Bureau) National Household Survey (PNAD). The rate is the highest since 2012, when the historic series was started. According to the survey over […]

Brazil Seen by Eurasia Group as One of Top Risks in 2016

Brazil Seen by Eurasia Group as One of Top Risks in 2016

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite the optimistic forecast by Brazilian President Dilma Rousseff during her New Year Day’s message to the nation, the country is expected to face economic and political challenges in 2016. With rising unemployment and inflation, Brazil has made it into Eurasia Group’s top ten risks […]

Brazil’s Real Falls to R$4.03 to the Dollar at Start of 2016

Brazil’s Real Falls to R$4.03 to the Dollar at Start of 2016

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The foreign exchange market in Brazil closed down on the first business day of the new year, with the US dollar appreciating against the Brazilian real by 2.17 percent. The Brazilian real closed on Monday (January 4th) at R$4.034/US$1, the lowest value of the Brazilian […]

Brazil’s Government Registers Worst Deficit in 19 Years

Brazil’s Government Registers Worst Deficit in 19 Years

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The federal government of Brazil registered the worst monthly primary deficit since 1997 in November, registering a negative account of R$21.28 billion, according to the country’s Treasury Department. In the accumulated total from January to November of 2015, the account registers a primary deficit of […]

Rousseff to Meet with Cabinet, Governors Before New Year

Rousseff to Meet with Cabinet, Governors Before New Year

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After spending Christmas with family in the Southern region of the country, Brazilian President Dilma Rousseff is expected to start the last week of the year calling cabinet members for a meeting to discuss the country’s economic and political situation. On the agenda are the […]

Retail Sales in Brazil Decline During Disappointing Holiday Season

Retail Sales in Brazil Decline During Disappointing Holiday Season

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian Association of Shopping Mall Store Owners (ALSHOP) announced that the retraction in Christmas sales in 2015 is likely to be the worst in ten years, when compared to sales during the same period in 2014. While the year-over-year decline may seem small, in […]

Possible Downgrade Reflects Reality of Economy in Brazil

Possible Downgrade Reflects Reality of Economy in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The possibility of having Brazil’s credit rating drop down from investment grade into junk status caused additional turbulence to the country’s economic market, with the stock market closing down and the US dollar appreciating. Finance Minister, Joaquim Levy, stated the measure reflects the difficulties seen […]

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