Foreign Exchange Rate in Brazil Faces High Volatility

Foreign Exchange Rate in Brazil Faces High Volatility

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The U.S. dollar depreciated slightly on Wednesday, August 26th in Brazil, after two days of extreme volatility due to the economic turmoil caused by the instability of major stock markets around the world. The foreign exchange rate in Brazil closed on Wednesday at R$3.601/US$ after […]

Unemployment Rises to 7.5 Percent in Brazil

Unemployment Rises to 7.5 Percent in Brazil

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Unemployment in Brazil has hit its highest level for the month of July since 2009 reaching 7.5 percent, according to the IBGE (Brazilian Statistics Bureau). And against trends from previous years, analysts expect the number to grow in the second half of the year, […]

Recession in Brazil Might Continue Until 2016

Recession in Brazil Might Continue Until 2016

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Analysts of the Brazilian economy have changed their forecast for 2016 for the first time to negative, assuming a contraction in GDP for the second year in a row. So far, estimates had always predicted a negative GDP for 2015, but a return to […]

Moody’s Downgrades Brazil’s Credit Rating

Moody’s Downgrades Brazil’s Credit Rating

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Credit ratings agency Moody’s downgraded Brazil’s ratings on Tuesday (August 11th) from Baa2 to Baa3, but improved the country’s outlook from negative to stable. According to the ratings agency, a weaker economic performance, a lack of political consensus over fiscal reforms and the government’s rising […]

Impact of Lava Jato on Brazil’s GDP Could Reach R$140 Billion

Impact of Lava Jato on Brazil’s GDP Could Reach R$140 Billion

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Lava Jato (Carwash) corruption scandal in Brazil involving oil giant Petrobras and some of the country’s largest construction companies is said to impact Brazil’s GDP by R$142.6 billion in 2015, according to calculations by consultancy firm GO Associates. This would be equivalent to […]

‘Brazil Cost’ Bureaucracy Continues to Hinder Business

‘Brazil Cost’ Bureaucracy Continues to Hinder Business

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Bureaucracy in Brazil is so widespread and extensive that a term was created to denote the difficulties and delays businesses face in the country, ‘custo Brasil’ (Brazil Cost). A new study by the World Bank confirms the efficiency problem, showing that Brazilian companies need […]

Over 1,000 Shops Have Closed in Rio de Janeiro Already This Year

Over 1,000 Shops Have Closed in Rio de Janeiro Already This Year

By Georgia Grimond, Contributing Reporter RIO DE JANEIRO, BRAZIL – The high price of rents and the worsening economy has led to the closure of 1,280 commercial establishments in Rio de Janeiro between January and May this year, a survey by the Research Center of Rio de Janeiro’s Shop Owner Association based on data from […]

Selic Interest Rate Increased for the Seventh Time in Brazil

Selic Interest Rate Increased for the Seventh Time in Brazil

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s benchmark interest rate, the Selic, has been increased for the seventh time in a row by the Central Bank’s Monetary Policy Committee, COPOM. This time, another 0.5 percent were added to the rate, which now reaches 14.25 percent, a level last seen in […]

Brazil Shows Slight Increase in Industry Confidence

Brazil Shows Slight Increase in Industry Confidence

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Despite the negative news about the Brazilian economy as well as political unrest due to large scale corruption schemes, after five consecutive declines the government news wire announced that the Industry Trust Indicator (Índide de Confiança da Indústria, ICI), measured by the Fundação Getulio Vargas […]

Brazil Real Falls to R$3.34 per US$1, the Lowest in Twelve Years

Brazil Real Falls to R$3.34 per US$1, the Lowest in Twelve Years

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The U.S. dollar ended this Friday (July 24th) selling at R$3.347 to US$1, an increase of R$0.051 (1.65 percent) on the day. The Brazilian real is at its lowest to the dollar since March 31, 2003, when the dollar closed at R$3.355. In the largest […]

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