Brazil economy - updates

Rappler's latest stories on Brazil economy

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Sao Paulo reopens stores, but many have closed for good

Jun 19, 2020 - 9:00 AM

After 3 months with no revenue, many small businesses in Brazil are forced to close for good

A woman walks past an empty store to rent or sell in a comercial area of Sao Paulo, Brazil, on June 17, 2020. - Sao Paulo is resuming its economic activity, but in some streets of Brazil's largest metropolis a succession of low iron curtains is evidence of the impact of the coronavirus: merchants have closed down. (Photo by NELSON ALMEIDA / AFP)

Brazil cuts interest rate to new low amid virus rout

Jun 18, 2020 - 8:00 AM

Brazil's economy is reeling as the country has become one of the worst flashpoints in the coronavirus pandemic

General view of a commercial street after it reopened, in downtown Sao Paulo, Brazil on June 10, 2020. - Sao Paulo's municipality authorized the reopening of commercial streets under safety measures such as the use of alcohol gel and face masks. (Photo by NELSON ALMEIDA / AFP)

Brazil GDP shrinks 1.5% in Q1 2020 due to pandemic

May 29, 2020 - 11:00 PM

The 1st quarter drop in Brazil's gross domestic product only reflects the early effects of the coronavirus crisis, with 2nd quarter numbers expected to be much worse

SHOPS CLOSED. An empty popular shopping street in downtown Sao Paulo, Brazil, on March 24, 2020. Photo by Nelson Almeida/AFP

Brazil risks 'economic collapse' over virus lockdown – minister

May 08, 2020 - 8:50 AM

Brazilian Economy Minister Paulo Guedes warns of 'economic collapse' and 'social disorder' in 'about 30 days' if coronavirus lockdown measures persist

Long exposition picture of vehicles in motion along 23 de Maio Avenue -one of the most important in the city- in Sao Paulo, Brazil, on April 30, 2020, amid to the COVID-19 coronavirus pandemic. - Since the isolation rate in Sao Paulo has been around 48%, when the ideal would have been 70%, Sao Paulo Mayor Bruno Covas announced isolation measures will be hardened next week, including the blocking of important avenues. (Photo by NELSON ALMEIDA / AFP)

Hit by virus, Brazil cuts interest rate to record low

May 07, 2020 - 7:15 AM

'The current economic environment demands extraordinarily strong monetary stimulus,' says Brazil's central bank

SHOPS CLOSED. An empty popular shopping street in downtown Sao Paulo, Brazil, on March 24, 2020. Photo by Nelson Almeida/AFP

Brazil taps $8 billion for small businesses hit by coronavirus

Mar 28, 2020 - 9:45 AM

Small and medium-sized businesses in Brazil will be able to take out loans at 3.75% interest – well below the market rate of around 20%

Picture of an empty popular shopping street in downtown Sao Paulo, Brazil, taken after the city government decreed the closure of shops and stores as a precautionary measure against the spread of the novel coronavirus COVID-19, on March 24, 2020. - Latin America's biggest city, the traffic-clogged concrete jungle of Sao Paulo, slowed to an eerily quiet lull Tuesday as it went into partial quarantine in a bid to stop the new coronavirus from ravaging Brazil. (Photo by Nelson ALMEIDA / AFP)

Brazil's president vows to veto corruption amnesty

Nov 28, 2016 - 12:25 AM

President Michel Temer says it would be impossible for him to approve the supposed corruption amnesty being eyed by Congress for itself

Brazilian President Michel Temer offers a press conference at Planalto Palace in Brasilia, on November 27, 2016. In order to cool down the political crisis generated by the resignation of Temer's political coordinator and the vote of unpopular measures in Congress, Temer and the presidents of the Senate and the Lower House held rare weekend news conference to explain the measures taken to resolve the crisis. / AFP PHOTO / EVARISTO SA

Brazil president urges economy reforms, slams 'psychological aggression'

May 25, 2016 - 8:02 AM

Michel Temer is seeking to cement his authority in the face of multiple challenges on both the economic and political fronts

Acting Brazilian President Michel Temer (R) and Romero Juca, a former minister of planning, during a meeting held with allied party leaders in Congress to present Temer's economic measures at the Planalto Palace in Brasilia on May 24, 2016. Evaristo Sa/AFP

Rousseff vows crisis won't mar Rio Games as flame relay begins

May 03, 2016 - 5:00 PM

UPDATED As Brazil starts its Olympic countdown President Rousseff will be counting down the days until the Senate vote on her impeachment

Brazilian President Dilma Rousseff (front) waves holding the Olympic flame upon its arrival at the Planalto Presidential Palace in Brasilia, Brazil, May 3, 2016. Fernando Bizerra/EPA

Olympics: Rio shrugs off doubts for 100-day countdown

Apr 28, 2016 - 7:07 AM

As the world counts down to the Games Brazil s government and global sports leaders insist they can overcome the host country s political meltdown and troubled preparations

epa05280229 Actresses playing the role of Priestesses perform during the handover ceremony of the Olympic flame in the Panathenaic Stadium, where the first modern games were held in 1896, in Athens, Greece, 27 April 2016. The Summer Olympics Games will be held in Rio de Janeiro, Brazil from 03 August to 21 August 2016. EPA/ORESTIS PANAGIOTOU

Will Brazil's mega-crisis hurt the Olympic Games?

Apr 27, 2016 - 9:48 AM

With 100 days to go the 2016 Summer Games are plunged in uncertainty even if the International Olympic Committee IOC has tried to stay upbeat

Activists supporting the impeachment of President Dilma Rousseff take part in a protest in an area separated by a fence from the Congress, in Brasi­lia, on April 15, 2016. Andressa Anholete/AFP

Brazilians march against Rousseff government

Apr 13, 2015 - 8:02 AM

Marchers – many wearing the yellow and green jerseys of the national football team – call for President Dilma Rousseff s ouster and an end to impunity for corruption

CARICATURE. People wave a flag with an image of Brazilian President Dilma Rousseff during a demonstration against her government at Copacabana beach in Rio de Janeiro, Brazil, 12 April 2015. Antonio Lacerda/EPA

Incumbent Rousseff to face Neves in Brazil run-off

Oct 06, 2014 - 7:29 AM

UPDATED With nearly all ballots counted the leftist incumbent has 42 of the vote to 34 for business world favorite Neves who fended off the once unstoppable looking Silva to reach the October 26 run off

THREE-WAY RACE. The three leading candidates in the Brazil election (L-R): Marina Silva, Dilma Rousseff, and Aecio Neves. Silva photo by Percio Campos/EPA; Rousseff, Neves photos by Nelson Almeida/AFP

Brazil votes for next president after dramatic campaign

Oct 05, 2014 - 7:00 PM

The telenovela like drama of the race – a candidate s death in a fiery plane crash a poor maid s rise to the cusp of the presidency a seedy oil scandal – continued down to the wire; Some 142 8 million voters will cast their ballots in the polls

THREE-WAY RACE. The three leading candidates in the Brazil election (L-R): Marina Silva, Dilma Rousseff, and Aecio Neves. Silva photo by Percio Campos/EPA; Rousseff, Neves photos by Nelson Almeida/AFP

Moody's negative on Brazil in new blow to Rousseff

Sep 10, 2014 - 7:43 AM

As the country prepares to go to the polls on October 5 Moody s warns that sustained low growth and worsening debt metrics could see Brazil s credit rating cut

Aerial view of Christ the Redeemer statue, in Rio de Janeiro, Brazil, taken on June 26, 2014. Yasuyoshi Chiba/AFP

Brazil incumbent goes on offensive in presidential debate

Sep 02, 2014 - 9:20 AM

In the second debate between the main candidates ahead of the October 5 first round vote Dilma Rousseff sought to come off the ropes three days after Brazil entered recession

Brazilian presidential candidates Dilma Rousseff of Partido de los Trabajadores (PT), Eduardo Jorge, of Partido Verde (PV), Luciana Genro, of Partido Socialismo y Libertad (PSOL), Aecio Neves of Social Democracia Brasilena (PSDB), Marina Silva of Partido Socialista Brasileno (PSB), Everaldo Pereira of Partido Social Cristiano (PSC) and Levy Fidelix of partido Renovador Laborista Brasileno (PRTB), prior to the televised presidential candidates' debate ahead of the 05 October presidential elections in the country, in Sao Paulo, Brazil, 01 September 2014. EPA/Sebastiao Moreira

Brazil falls into recession as election looms

Aug 30, 2014 - 3:40 PM

The contraction of Latin America s largest economy could further weaken President Dilma Rousseff s chances for re election in October

Brazil launches election campaign amid World Cup fever

Jul 07, 2014 - 9:24 AM

The continent sized nation of 200 million – currently hosting the world s biggest sporting event – will hold elections for the presidency Congress state governorships and state legislatures in October

SEEKING SECOND TERM. In this file photo, Brazilian President Dilma Rousseff delivers a speech at Planalto Palace in Brasilia, on June 16, 2014. Evaristo Sa/AFP