News from Brazil

Politics & Government

In Uncategorized on May 23, 2010 at 10:24 am

ELECTIONS

Readers of Brazil Weekly put Dilma Rousseff clearly ahead in a poll that ran for the week of May 16th-23rd. Some 48% of you,  Brazil buffs and experts, think Dilma Rousseff will become the next president of Brazil, as opposed to 40 % of you, who believe it will be Jose Serra. Marina Silva still got 12 % of total votes. We will repeat the poll in a few months time.

Presidential candidate Dilma Rousseff said she favors a careful reduction in the country’s inflation target during the next few years (Reuters).

Dilma Rousseff also said financing by state-controlled banks has “reached its limit” and one of the challenges of the next government will be to stimulate financing through pension funds and equity markets (Bloomberg).

The three main parties competing for the presidential elections have now announced their potential Vice Presidents to help drum up further support for their bids. Marina Silva, front runner of Partido Verde (PV/The Green Party) officially declared businessman Guilherme Leal as their candidate on May 16. José Serra’s Partido da Social Democracia Brasileira (PSDB) named his co-PSDB member Aécio Neves, whilst Dilma Rousseff’s Partido dos Trabalhadores (PT/Labour Party) also announced PMDB and current President of Lower House Michael Temer as her running mate (Rio Times).

FOREIGN AFFAIRS

Some observers have yet to see whether Brazil’s president, Luiz Inácio Lula da Silva, and Turkey’s prime minister, Recep Tayyip Erdogan (flanking Mr Ahmadinejad above), really have succeeded in enticing Iran a step in from the cold in its row with the UN Security Council over its nuclear ambitions (The Economist).

President Luiz Inacio Lula da Silva put his country in the global spotlight this week when he helped broker a controversial fuel swap deal for Iran’s nuclear program. Is this a boost or bust for Brazil’s diplomacy (Reuters)?

DEFENCE

France is mounting a last-ditch bid to prevent another fighter sale slipping from its grasp as upcoming Brazilian presidential elections threaten to spoil its hopes of winning a first foreign sale of its Rafale combat jet (Reuters).

Brazil has signed the Nuclear Nonproliferation Treaty, but experts suspect it may be working on a nuclear bomb. The country is allowed to legally enrich uranium for its nuclear submarines, but nobody knows what happens to the fuel once it is on restricted military bases (Der Spiegel).

PENSIONS

Brazil’s Senate approved today a 7.7 percent raise in retirement payments for some of the country’s pensioners (Bloomberg).

ECONOMY & STATE

Brazil’s government raised its forecast for growth this year in the 2010 budget to 5.5 percent from 5.2 percent previously, the Planning Ministry said (Reuters).

Brazil’s government is unlikely to alter the primary budget surplus target for the year, even though the result could be above 3.3 percent of gross domestic product, Treasury Secretary Arno Augustin said (Reuters).

The International Monetary Fund may raise its 2010 economic growth forecast for Brazil because of a rapid recovery from a brief recession last year, the fund’s deputy director, Murilo Portugal, said (Reuters).

Petrobras Chief Financial Officer Almir Barbassa said Brazil’s government will buy enough shares of the state-run company in an offering to at least keep its 32 percent stake and may increase it, ensuring demand for the sale (Bloomberg).

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