Archive for the ‘Brazil’ Category

Brazil in recession as Q2 GDP slides

| August 29th, 2014 | No Comments »
From AFP

Brasília (AFP) – Brazil is in recession after Latin America’s largest economy contracted during two successive quarters, the National Statistical Institute (IGBE) reported Friday.

The IGBE said the GDP shrank 0.6 percent in the second quarter, and 0.2 percent in the first quarter, which it revised down from 0.2 percent growth.

Coming just weeks before October 5 presidential and general elections, the figures are another knock to already low industrial and consumer confidence in what once was a rapidly growing, regional powerhouse.

Declining GDP in two consecutive quarters is the technical definition of a recession.

The second quarter decline was steeper than the 0.4 percent predicted by a cross-section of leading economists.

Year on year, GDP shrank 0.9 percent.

Contributing to the poor performance was a 0.3 percent drop in household spending.

It comes with leftist ... Read More

Brazil’s Silva Taps Voter Discontent

| August 29th, 2014 | No Comments »
Wall Street Journal WSJ-01

By JOHN LYONS

SÃO PAULO, Brazil—Just over a year ago, a million Brazilians took to the street to vent displeasure with political corruption and poor government services. Now, they look poised to channel that frustration into the ballot box.

A late entrant in the campaign, Socialist Party candidate Marina Silva suddenly has become the undisputed leader in the October election by transforming the protest movement’s reservoir of discontent into potential votes.

A poll released late Tuesday by the Ibope research firm showed Ms. Silva defeating the incumbent Dilma Rousseff with 45% to 36% in a runoff. She looked every bit the front-runner later that evening with a strong performance in the first televised debate between candidates leading up to October’s elections.

The 56-year-old former senator and environmental activist has tapped a demographic previously out of reach for candidates: voters so fed up with Brazilian politics they were planning to file blank ballots instead of picking a candidate. ... Read More

Brazil’s Insurgent Candidate Blows Smoke

| August 29th, 2014 | No Comments »
Bloomberg By Mac Margolis With seven candidates on stage, and a month to go before Brazil’s Oct. 5 presidential election, the first nationally broadcast debate of the race last night got the billings of a telenovela. It ended up more like a network rerun.

This was Socialist Party candidate Marina Silva’s chance to meet her rivals in the race for the Planalto Palace and to spin for a national audience her much touted vision for a “third way” in Brazilian politics.

Thrust into the lights when Socialist Party leader Eduardo Campos died in a plane crash on Aug. 13, she seemed poised to claim the 77 percent of voters who told a major polltaker, the National Transportation Council, that they are dissatisfied with Brazilian politics. After 2 1/2 hours of combat and sound bites, however, the many bewildered and disillusioned voters were likely none the wiser.

Expectations couldn’t have been higher. A poll released hours before the debate showed the 56-year-old former ... Read More

Meet The Multimillionaire Banking Heir Who Is Backing Brazil’s Marina Silva Presidential Bid

| August 29th, 2014 | No Comments »
Forbes

By Anderson Antunes

Brazil’s presidential elections were turned upside down two weeks ago when a fatal jet crash killed presidential candidate Eduardo Campos. Campos’ running mate Marina Silva replaced him on the ticket and is already leading in the polls. Investors from around the world are watching Silva, an environmental leader who placed third in the 2010 presidential election as a then Green Party (PV) candidate, with nearly 20% of the votes. (Silva has since left PV to found a new party, the “Sustainability Network,” but it failed to achieve the required number of signatures from new members and was ineligible to register with the Electoral Court.)

Last October, 56-year-old Silva was invited by Eduardo Campos to form a ticket to run for the presidency, and joined his Brazilian Socialist party (PSB) as Campos’ vice-president in its presidential bid. After his tragic death, Silva was the natural choice to replace him, though ... Read More

Rising Political Star Upends Brazil Presidential Race

| August 27th, 2014 | No Comments »
Wall Street Journal WSJ-01

BY LUCIANA MAGALHAES & ROGERIO JELMAYER

Brazil’s newest presidential candidate, Marina Silva, has pulled ahead of incumbent Dilma Rousseff, upending a race the challenger entered as an official candidate less than a week ago, according to a new poll.

Data released Tuesday evening showed that Ms. Silva, an environmental activist and the newly minted Socialist Party candidate, would garner 45% of the likely vote in a runoff, compared with 36% for Ms. Rousseff of the Workers’ Party.

The survey, conducted by the polling institute Ibope, has a margin of error of two percentage points, giving Ms. Silva a comfortable lead at this point in the race.

Ms. Rousseff leads the survey in the first round of balloting, scheduled for Oct. 5, with 34% of the prospective vote, according to Ibope, compared with 29% for Ms. Silva and 19% for Aecio Neves, a pro-business candidate with the Brazilian Social Democracy Party. However, a runoff is ... Read More

Silva surges in Brazil election race, threatens Rousseff

| August 27th, 2014 | No Comments »
Article originally appeared in Reuters

By Anthony Boadle

BRASILIA (Reuters) – A surging Marina Silva has narrowed President Dilma Rousseff’s lead in Brazil’s presidential race, a new opinion poll showed on Tuesday, paving the way for a likely second-round runoff in which the popular environmentalist looks well-positioned to win.

Silva, who was thrust into the presidential race last week following the death of her party’s candidate, has 29 percent of voter support heading into the Oct. 5 vote, according to the survey by polling institute Ibope.

The poll showed Rousseff with 34 percent, down from 38 percent in the previous Ibope survey in early August. The other main opposition candidate, Senator Aecio Neves, has also dropped four percentage points to 19 percent since the last Ibope poll.

In a likely second-round runoff on Oct. 26 between the top two vote-getters, Silva would defeat Rousseff by a margin of nine ... Read More

Brazil candidates engage in verbal sparring in TV debate

| August 27th, 2014 | No Comments »
BBC

BY WYRE DAVIES

The first of Brazil’s televised presidential debates has taken place just two weeks after the death of one of the leading candidates in October’s election, Eduardo Campos.His replacement, internationally renowned environmentalist Marina Silva, is already challenging incumbent Dilma Rousseff according to opinion polls.

Just two weeks ago, Ms Rousseff seemed to be coasting, almost sleepwalking towards another four-year term as president of Brazil.

Sure, economic growth has all but ground to a halt and crime levels have again started to creep up in many urban areas but Ms Rousseff’s pragmatic and popular social policies have helped to elevate as many as 40 million of her countrymen and women out of poverty.

Surprise turn

Moreover, despite international business concerns about her protectionist economic policies, none of Ms Rousseff’s main opponents for the presidency were able to get close enough to her to really challenge her bid for a second term.

So Tuesday’s first televised ... Read More

Brazil Eager for Silva’s Economic Vision

| August 22nd, 2014 | No Comments »
Wall Street Journal WSJ-01

BY REED JOHNSON & ROGERIO JELMAYER

Brazil’s Socialist Party confirmed its support for Marina Silva as its nominee for president, ratcheting up pressure on the presumptive candidate to lay out a vision for steering the world’s 7th-largest economy.

Ms. Silva, a former Green Party leader and environment minister, has made no formal policy statements in the days since being elevated from vice-presidential candidate to the likely replacement for Eduardo Campos, who was killed in an Aug. 13 plane crash.

Although the party said it supported Ms. Silva’s candidacy—along with Beto Albuquerque, a congressman from Rio Grande do Sul state as her vice-presidential running mate—the ticket must still win support from smaller coalition partners.

With inflation stubbornly high and many economic indicators pointing toward recession, analysts and investors say Ms. Silva must swiftly outline her economic plans. Of particular interest are her views on the role and size of government, and whether her environmental leanings ... Read More

Marina Silva becomes formidable opponent in Brazil poll

| August 20th, 2014 | No Comments »
BBC

BY WYRE DAVIES

It was hardly looking like a cliff-hanger.

Some accused it of being predictable and even boring – a presidential election in which the incumbent was all but guaranteed of being re-elected without, perhaps, even the need for a second round of voting.

But then tragedy intervened and changed everything.

We simply do not know what kind of president Eduardo Campos, the presidential candidate for Brazil’s Socialist Party who was killed in a plane crash last week, would have been.

With less than 10% of the projected vote, he certainly would not have been elected this time around, but many Brazilians and political observers had earmarked the 49-year-old former governor of the northern state of Pernambuco as a genuine contender for 2018.

Country in mourning

An estimated 100,000 mourners attended Mr Campos’ funeral in Recife at the weekend.

Among them was President Dilma Rousseff. It has been an impossible week ... Read More

Death Lifts Opposition in Brazil Vote

| August 19th, 2014 | No Comments »
Wall Street Journal WSJ-01

BY ROGERIO JELMAYER, REED JOHNSON, & LUCIANA MAGALHAES

Brazil’s Socialist Party, whose dark-horse presidential candidate died in a plane crash last week, now has a chance of making it to a runoff and even winning the October election, a new poll showed on Monday.

Barely a week ago, Marina Silva was a vice-presidential hopeful running with Eduardo Campos, who was polling a distant third with about 8% of the vote at the time of his death, leaving Ms. Silva poised to take his place at the top of the ticket.

The survey by polling firm Datafolha showed Ms. Silva—whose candidacy hasn’t yet been officially announced by her party, but is widely expected in coming days—not only appears be a stronger candidate than Mr. Campos, but would have a viable shot at defeating incumbent President Dilma Rousseff of the leftist Workers’ Party in the event of a second-round runoff vote.

Ms. Rousseff remains the favorite ... Read More

Brazil: Marina Silva ‘to replace’ late candidate Campos

| August 18th, 2014 | No Comments »
BBC

The former Brazilian Environment Minister, Marina Silva, is expected to be named in the next few days to run for president in October.

She would replace former presidential candidate, Eduardo Campos, who was killed in a plane crash on Wednesday.

A close adviser to Ms Silva, Bazileu Margarido, told the BBC that she had agreed to run.

But the decision still needs to be officially approved by Mr Campos’s Socialist Party (PSB).

The Socialists – the major partner in the opposition coalition established to run against President Dilma Rousseff – are expected to announce their decision after a meeting on Wednesday.

Evangelical environmentalist

Ms Silva had decided to run for vice-president alongside Mr Campos after the Electoral Court in October 2013 refused to register her political movement, Rede Sustentabilidade (The Sustainability Network).

She fell out with the Workers’ Party government and left office to run against Ms Rousseff in 2010.

An environmentalist and devout ... Read More

Deadly Plane Crash Turns Green Evangelical Into Brazil Kingmaker

| August 15th, 2014 | No Comments »
Bloomberg

By Raymond Colitt and David Biller

She’s an environmental activist and an evangelical abortion opponent. She’s been called pro-market and a socialist. And now Marina Silva is the kingmaker in one of Brazil’s most-contested presidential elections.

Silva, 56, became the wild card in Brazilian politics after her running mate, presidential candidate Eduardo Campos, died in a Aug. 13 plane crash. While political analysts and investors say she will probably replace him on the ballot, her stance on the environment clashes with vested interests in a party she joined after failing to form her own, said Andre Cesar, director at public policy and business strategy consultants Prospectiva.

Silva stands to upset the campaigns of her two leading contenders if she jumps into the race. She could divide the vote enough to rob President Dilma Rousseff of a first-round victory, while denying candidate Aecio Neves a spot in the second round, UBS AG said. A candidate needs ... Read More

Brazil’s Election Draped in Mourning

| August 15th, 2014 | No Comments »
Bloomberg

BY MAC MARGOLIS

Twenty years ago, when he debuted in national politics, Eduardo Campos, the Brazilian presidential hopeful who died in a plane crash yesterday, was easy to underestimate. With his elegant suits, camera-ready smile and pale-blue eyes as big as fog lights, the junior legislator from the northeastern state of Pernambuco seemed a better fit on the set of a soap opera than in the two-fisted arena of Brasilia.

He was nothing like his congressional colleague and close friend, Aldo Rebelo, the ambitious Communist Party chieftain who I’d arranged to meet one night in a tony Brasilia restaurant favored by power brokers. Campos was by his side that evening, but clearly as entourage. As it happened, Rebelo would go on to occupy second-rate jobs in service to leftwing president Luiz Inacio Lula da Silva, where his most memorable offering was a legislative bill to banish foreign words (delivery, sale, shopping center) from Brazilian ... Read More

New face may scramble Brazil’s presidential campaign

| August 14th, 2014 | No Comments »
AEI

Brazil’s presidential campaign took a tragic turn Wednesday morning when Socialist Party candidate Eduardo Campos, 49, was killed when the private plane he was traveling on crashed in the Brazilian port city of Santos; four other passengers and the two pilots also were killed. Campos’ running mate, Marina Silva Vaz de Lima, will likely be designated to assume the top spot on the Socialist alliance ticket. Silva, 56, grew up poor in the heart of the Amazonian jungle, but went on to serve as environmental minister under popular former president “Lula” da Silva (no relation) and finished third in the 2010 presidential race that was won by current president Dilma Rousseff. Although the Socialist ticket was running a distant third in recent polls, Silva’s rags-to-riches story may scramble a race that has been tightening in recent weeks due to dour economic news.

Recently, economists once again lowered projections for Brazil’s 2014 economic growth to around ... Read More

Death of Presidential Candidate Shocks Brazil

| August 14th, 2014 | No Comments »
From Time

Brazil was thrown into mourning Wednesday by the unexpected death of presidential candidate Eduardo Campos in a plane crash. The popular former governor of Pernambuco State in northeast Brazil’s was just 49 and his death threw October’s election wide open.

“The whole of Brazil is in mourning. Today we lost a great Brazilian,” Brazilian President Dilma Rousseff said in a statement on the loss of her presidential rival — a former member of her predecessor Luiz Inácio Lula da Silva’s left-wing Workers’ Party’s coalition government. Lula and Rousseff’s Workers’ Party (PT) have run Brazil since winning in 2002.

Campos and six others were killed when the small Cessna plane they were traveling in from Rio de Janeiro to an event in Guarujá on the São Paulo state’s coast crashed in port town Santos after hitting bad weather, the Brazilian air force said in a statement.

... Read More

Malice in Brazil’s Palace

| August 13th, 2014 | No Comments »
Bloomberg

BY MARC MARGOLIS

This time last year, Brazilian President Dilma Rousseff was in a huff. Former National Security Administration analyst-gone-rogue Edward Snowden had just unloaded his findings on how U.S. spymasters were snooping even on allied heads of state, and Rousseff was caught in the widening gyre.

The Brazilian leader immediately canceled a state visit to Washington and demanded a formal apology, slamming the Obama administration for the “affront” of “tampering in such a manner in the lives and affairs of other countries.” Brazil went on to lead a campaign for new rules to govern the Internet and safeguard democracy.

Now Rousseff has her very own affront to manage. This one wasn’t just about eavesdropping on unwitting citizens, but a cybersmear campaign against journalists. And while no one from government has been directly implicated, the scandal has Brasilia’s footprints all over it.

The immediate targets were Miriam Leitao and Carlos Alberto Sardenberg, both marquee journalists specializing in business and economics, with ... Read More

Malice in Brazil’s Palace

| August 13th, 2014 | No Comments »
Bloomberg

By Mac Margolis

This time last year, Brazilian President Dilma Rousseff was in a huff. Former National Security Administration analyst-gone-rogue Edward Snowden had just unloaded his findings on how U.S. spymasters were snooping even on allied heads of state, and Rousseff was caught in the widening gyre.

The Brazilian leader immediately canceled a state visit to Washington and demanded a formal apology, slamming the Obama administration for the “affront” of “tampering in such a manner in the lives and affairs of other countries.” Brazil went on to lead a campaign for new rules to govern the Internet and safeguard democracy.

Now Rousseff has her very own affront to manage. This one wasn’t just about eavesdropping on unwitting citizens, but a cybersmear campaign against journalists. And while no one from government has been directly implicated, the scandal has Brasilia’s footprints all over it.

The immediate targets were Miriam Leitao and Carlos Alberto Sardenberg, both marquee ... Read More

Muere candidato presidencial brasileño en accidente aéreo

| August 13th, 2014 | No Comments »
Excelsior

Eduardo Campos se encontraba en tercer lugar en las preferencias electorales; junto a él murieron dos de sus asesores y su fotógrafo oficial.

AO PAULO, 13 de agosto.- Un avión privado que llevaba al candidato presidential brasileño Eduardo Campos se estrelló este miércoles en la ciudad de Santos, informaron fuentes de su campaña.

El avión que lo transportaba, un Cessna 560XL, se estrelló cuando se preparaba para aterrizar, informó por su parte la Fuerza Aerea Brasileña.

Rede Globo informó que de acuerdo con fuentes de la campaña, Campos murió en el accidente.

La compañera de Campos, Marina Silva, no se encontraba en el avión. En el accidente también murieron su fotógrafo oficial así como dos asesores de su campaña.

Campos, de 49 años y exaliado de la presidenta Dilma Rousseff, era exgobernador del estado de Pernambuco.

Campos se encontraba en tercer lugar en las encuestas con un 9% de las preferencias, por detrás de Rousseff, que tiene ... Read More

Menor demanda externa reduce crecimiento de América Latina

| August 5th, 2014 | No Comments »
El Nuevo Herald

AFP

SANTIAGO – La menor demanda externa de materias primas por parte de los socios de América Latina y el Caribe, principalmente China, llevó a Cepal a reducir su estimación del crecimiento de la región de 2.7% a 2.2% en el 2014.

A la menor demanda externa se suma “un bajo dinamismo de la demanda interna, insuficiente inversión y un limitado espacio para la implementación de políticas que impulsen la reactivación”, sostuvo la Comisión Económica para América Latina y el Caribe (Cepal) en un informe económico presentado este lunes.

El menor crecimiento de China es “el principal riesgo” en lo que queda de año para los países de la región exportadores de materias primas.

En tanto, el crecimiento de Europa y Japón, otros importantes socios comerciales de Latinoamérica, caerá de 0.5% a 0.2% y de 1.7% a 1.4% respectivamente, lo que también significará una menor demanda de las ... Read More

Rousseff, Allies Mobilize Against Opponents of Economic Policies

| August 1st, 2014 | No Comments »
Wall Street Journal WSJ-01

By ROGERIO JELMAYER and LUCIANA MAGALHAES

SÃO PAULO—With a drumbeat of negative economic news weighing on Brazilian President Dilma Rousseff’s chances at a second term, her administration is testing a new strategy: shoot the messenger.

In recent days, pressure from the ruling party has resulted in the firing of a bank analyst and a court injunction against a financial research firm; both had warned clients of possible stock market declines if Ms. Rousseff is re-elected in October.

Such views are widely shared by economists, who’ve repeatedly downgraded Brazil’s growth prospects in recent months. Ms. Rousseff’s rivals have stepped up their attacks on her economic policies.

Now, with just over two months until the election, Ms. Rousseff’s administration and the ruling Workers’ Party have gone on the offensive, accusing some in the financial sector of piling on the president to benefit the opposition, which is viewed as friendlier to business.

The head of the Workers’ Party last week ... Read More

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