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Brazil’s Finance Minister Replaced
Keywords:
Finance Minister Joaquim Levy, a University of Chicago trained economist, is replaced by planning minister Nelson Barbosa, as the new Finance Minister of Brazil. President Rousseff faces criticism as Brazil's economy contracts and ordinary Brazilians feel the effects of fiscal austerity policies pursued under Levy. Former president Lula da Silva was critical of Levy's policies.
Dilma Rousseff's second term as president in Brazil
10/05/2014
Rousseff won the first round with about 41% of the vote.
Grouped Articles
Dilma Rousseff Emerges as Front-Runner in Brazil’s Election but Faces Runoff
New York Times 10/05/2014
Brazil’s presidential election: Why Brazil needs change
Economist 10/17/2014
Brazil Stays With Rousseff as President After Turbulent Campaign
New York Times 10/26/2014
Investors Give Thumbs Down on Brazil Vote
Wall Street Journal 10/28/2014
Brazil Ruling Party Splits Over Economy
Wall Street Journal 11/12/2014
An Escalating Corruption Scandal Rocks Brazil
Wall Street Journal 04/13/2015
Petrobras and economic policy in Brazil under president Rousseff
08/15/2011
Petrobras is losing ground in oil exploration and growth as economic policies of the Rousseff government focus on lowering unemployment in Brazil. Unemployment in Brazil is at 5.4% in 2013 but growth has slowed sharply to about 1%. Government policy requires Petrobras to buy from Brazilian companies to increase employment. The share price of Petrobras has fallen sharply in recent years down to where its market capitalization in less than the Colombian oil company. Oil production is not keeping up with growth in the economy.
Grouped Articles
Petrobras Investors Feel the Give and Take of Government
Wall Street Journal 04/15/2013
Infrastructure Enthusiasm Builds in Brazil
Wall Street Journal 08/15/2011
Petrobras Pays Price for Being Brazil's Champ
Wall Street Journal 07/08/2013
Brazil Moves to Join Other Major Oil Nations
Wall Street Journal 10/22/2013
Fracking Leaves Brazilian Oil Lacking
Wall Street Journal 10/22/2013
Brazil Seen Having to Alter Oil Rules
Wall Street Journal 10/23/2013
Brazil's economy in 2015-2016
04/05/2015
Grouped Articles
Brazil’s coming recession: The crash of a titan
Economist 04/05/2015
Learning the lessons of stagnation
Economist 06/30/2015
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08/28/2015
Brazil’s Economic Crisis Beats the Emerging Middle Class Back Down
Wall Street Journal 11/10/2015
Gloom on Brazil Finances Deepens
Wall Street Journal 12/17/2015
Brazil’s Finance Minister Replaced
New York Times 12/18/2015
Economic policy errors in Russia and Brazil
05/03/2015
Brazil raises interest rates to over 13%, as it faces critical needs of private companies financing dollar based debt. This is likely to lead to further economic contraction and higher inflation. Inflation is at over 8% in 2015. Russia lowered the high interest rates ratcheted up to 17% to tackle a ruble collapse in 2015. Interest rates were lowered to but this move also aggravates inflation which is now at close to 17%.
Grouped Articles
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Learning the lessons of stagnation
Economist 06/30/2015
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08/28/2015
Brazil’s Finance Minister Replaced
New York Times 12/18/2015
Putin’s self-destructing economy - The Washington Post
Washington Post 01/18/2016
The Economist on the Brazilian economy's perilous situation in 2015-2016
04/05/2015
Dollar debts for Brazil went up from $100 billion in 2010 to $250 billion in 2015, according to BIS data. Even more in local currency terms which went up from 210 billion reais to 650 billion reais. BNDES and Caixa Economic Federal, 2 state owned banks made up 35% of bank loans in Brazil in 2009, by 2015 this went up to 55%, making Brazil's banking system a fiscal operation overly dependent on the state. With rates as high as 16%, the state banks provide subsidized loans to firms at 5.5%. Monetary policy is difficult for the central bank as increasing rates to shore up the declining real would hurt the economy, which is expected to contract by 1.5% by official estimates, but higher according to other private estimates. The declining real, drought affecting hydroelectric generated power prices, and lower export revenues, in addition to high debt interest payments exceeding 6% of GDP, are leading to low or no economic growth for 2015-2016. This comes at a time of corruption issues and ratings one notch above junk for state oil company Petrobras, which itself needs government support.
Grouped Articles
Brazil’s coming recession: The crash of a titan
Economist 04/05/2015
Fed Must Consider the World and All U.S. Employment
Wall Street Journal 04/09/2015
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Learning the lessons of stagnation
Economist 06/30/2015
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08/28/2015
Brazil Sinks into Technical Recession on Second Quarter Output Contraction
Wall Street Journal 08/28/2015
Economic policies under president Rousseff and finance minister Mantega in Brazil- 2011-2014
05/21/2011
Brazil's finance minister says Brazil is following a "developmental economics" model which was more appropriate for Brazil. This includes credit expansion for industry through state owned banks, including efforts to revive the auto industry with loans from state owned Banco de Brazil in 2012.
Grouped Articles
Infrastructure Enthusiasm Builds in Brazil
Wall Street Journal 08/15/2011
Latin America Boom Starts to Fade
Wall Street Journal 05/30/2013
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Thousands Gather for Protests in Brazilâs Largest Cities
New York Times 06/17/2013
Brazil, Fortune and Fate Turn on Billionaire
New York Times 06/23/2013
Brazil's President Offers Referendum
Wall Street Journal 06/25/2013
Differences over economic policy in Brazil of the ruling Workers Party
11/12/2014
Differences between former president Da Silva and president Rousseff in the ruling Workers party.
Grouped Articles
Brazil Ruling Party Splits Over Economy
Wall Street Journal 11/12/2014
Brazil’s Economic Crisis Beats the Emerging Middle Class Back Down
Wall Street Journal 11/10/2015
Brazil’s Finance Minister Replaced
New York Times 12/18/2015
Brazil Workers’ Party, Leaders ‘Intoxicated by Power,’ Falls From Grace
New York Times 05/12/2016
Brazil's GDP and economic growth in 2014-2015
08/28/2015
Grouped Articles
Brazil Sinks into Technical Recession on Second Quarter Output Contraction
Wall Street Journal 08/28/2015
Brazil’s Finance Minister Replaced
New York Times 12/18/2015
Brazil’s President Rousseff, Facing Impeachment Effort, Is Deluged by More Bad News
New York Times 03/03/2016
Latin American economies Peru, Chile, Colombia, Brazil, and Mexico as the commodities boom cycle fades in 2013-2015
05/06/2010
Commodities exports make up about one fifth of output in Peru and Chile. Slowdown in growth in China will affect exports of copper and other metals. Brazil's growth faces additional hurdles with low investment rates, poor infrastructure and other problems. This in turn affects companies ranging from beer producers to other companies depending on sales in the region.
Grouped Articles
Latin America Boom Starts to Fade
Wall Street Journal 05/30/2013
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Thousands Gather for Protests in Brazilâs Largest Cities
New York Times 06/17/2013
Anger Spills Onto Brazil's Streets
Wall Street Journal 06/18/2013
Brazil, Fortune and Fate Turn on Billionaire
New York Times 06/23/2013
Brazil’s disappointing economy: Stuck in the mud
Economist 06/27/2013
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