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Brazil & Southern Cone - September 2015 (ISSN 1741-4431)
ECONOMY: Recession bites
Brazil posted a real GDP contraction of 1.9% in the second quarter of 2015, compared to the immediately preceding quarter, according to the national statistics institute (Ibge). This was the worst quarterly result recorded since 2009, putting Brazil officially into recession following two consecutive quarters of negative economic growth. The weak data forced President Dilma Rousseff to admit errors in her administration of Brazil’s economy, with the Tribunal de Contas da União (TCU), the country’s financial watchdog, potentially poised to reject the government’s books for 2014.
- S&P downgrade deepens Brazil’s economic crisis
- POLITICS: No let-up in the pressure on Rousseff
- ECONOMY: Recession bites
- POLITICS: Election fever
- SECURITY: Bachelet faces wider security criticism
- POLITICS & TRADE: Weakened Vázquez gives ground to radicals
- POLITICS: Cartes talks himself into trouble
- Brazil’s supreme court considers cannabis legalisation