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Weekly Report - 18 June 2015 (WR-15-24)

BRAZIL: Rousseff called to explain accounts

In an unprecedented move, Brazil’s financial ombudsman, the Tribunal de Contas da União (TCU), has postponed its decision on whether to approve the government accounts in order to allow 30 days for President Dilma Rousseff to explain certain irregularities. Rousseff must respond in writing to 13 queries about the government’s books for 2014. In particular the TCU wants Rousseff to explain the government’s decision to delay payments to banks in order to enhance its fiscal position artificially.

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