Brazil to Expand Visa Concessions to Haitian Immigrants
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil Justice Minister, José Eduardo Cardozo, announced that the country would be expanding the concession of visas to Haitians who wish to immigrate to Brazil. The measure, according to Cardozo seeks to curb the number of Haitians victims of coyotes (those who transport people across […]
Interest Rates in Brazil Rise to 13.75 Percent
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian Central Bank’s Comitê de Política Monetária – Copom (Monetary Policy Committee) decided unanimously on Wednesday (June 3rd) to increase the country’s benchmark interest rate (Selic) by 0.5 percentage points from 13.25 percent to 13.75 percent per year. This is the sixth consecutive time the […]
Brazil Re-Directs Credit Towards Real Estate Sector
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian National Monetary Council passed a resolution last week which will direct R$22.5 billion of reserve requirements towards farm and housing credit. The measure, say analysts, will help sectors such as the construction and real estate segments, which have been hit hard by the […]
Brazil’s Prison Population Grows by 74 Percent in Seven Years
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A survey released on Wednesday, June 3rd, by Brazil’s Secretary General’s office confirmed showed that the country’s prison population grew by 74 percent between 2005 and 2012, totaling more than half a million detainees. Brazil today has the fourth largest prison population in the world […]
Interest Rates in Brazil Expected to Increase Again to 13.75%
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s benchmark interest rate (Selic) is expected to increase again this week, as Central Bank officials sit down for their scheduled Copom (Monetary Policy Committee) meeting Tuesday and Wednesday, June 2nd and 3rd. According to surveys conducted by the Central Bank, financial analysts forecast an […]
Teachers at Federal Universities in Brazil Go on Strike
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Professors and administrative officials at at least eighteen federal universities in twelve states in Brazil have began a nationwide strike for more government investments in education, better working conditions and a 27 percent pay increase. Last week, the government announced that it would be making […]
Brazil’s Economy Contracts 0.2 Percent in Q1 of 2015
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s economy registered a decrease of 0.2 percent during the first quarter of 2015 in relation to the fourth quarter of 2014, according to the IBGE (Brazilian Statistics Bureau), totaling R$1.408 trillion for the first three months of the year. In comparison to the same […]
Brazil’s Rousseff In Mexico To Sign Trade Agreements
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s President Dilma Rousseff starts her official visit to Mexico on Tuesday, May 26th, with the objective of strengthening commercial bilateral relations between the two nations, as Brazil and Mexico together make up more than half of the production, population and territory of Latin America. […]
Brazil’s Congress Gives Mixed Reaction to R$70B in Budget Cuts
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The R$69.9 billion budget cuts announced by Brazil’s government on Friday was received with mixed feelings by Congressional representatives, who are debating this week whether to authorize the fiscal adjustments requested by the Rousseff Administration. While some say that this is the only way to […]
Banks to Pay More Taxes as Brazil Tries to Increase Revenues
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian government announced this past week it would be increasing financial institutions’ taxes over net profits from fifteen percent to twenty percent, hoping to raise an additional R$3-4 billion per year to compensate the drop in revenues due to an ailing economy. The government’s […]
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