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Latin American Economy & Business - May 2016 (ISSN 1741-7430)

First outlines of a new economic policy in Brazil

Michel Temer was sworn in as Brazil’s acting president on 12 May, after the Senate voted to begin an impeachment trial of the previous incumbent, Dilma Rousseff. The trial could take up to 180 days. Theoretically, Rousseff could return to the top job at some point during that period if she is found innocent of the charge that she manipulated the fiscal accounts. In political terms, the most likely outcome is that Temer will serve out the rest of her term in office, until the next general election due in October 2018. So for the next two years plus, economic policy is likely to be in the hands of the new president and his just-appointed finance minister, Henrique Meirelles. Investors are asking what this is likely to mean for Latin America’s largest economy.

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