News from Brazil

Brazil Politics & Government News

In Brazil on June 28, 2012 at 1:47 pm

POLITICS

Brazil unveiled a new round of stimulus measures, pledging to boost government purchases and lower subsidized lending rates for companies in another bid to revive a struggling economy. The new measures, which call for an increase in government purchases this year of 6.6 billion reais ($3.2 billion), are part of a broader push to shield Brazil from the slowing global economy and the European debt crisis (Reuters).

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RIO+20

The UN sustainable development summit in Brazil has ended with world leaders adopting a political declaration hammered out a few days previously. Environment and development charities say the Rio+20 agreement is too weak to tackle social and environmental crises. Gro Harlem Brundtland, author of a major UN sustainable development report 25 years ago, said corporate power was one reason for lack of progress. Nations will spend three years drawing up sustainable development goals. They will also work towards better protection for marine life on the high seas. But moves to eliminate subsidies on fossil fuels – recommended in a number of authoritative reports as likely to boost economies and curb CO2 emissions – came to naught (BBC).

On the day before the Rio+20 talks started, international executives sat in a conference hall, passed a microphone around like a guitar at a campfire, and sang an unlikely new song. “Businesses like regulation,” said Adriana Machado, CEO of General Electric Brazil, speaking at the World Business Council for Sustainable Business’ daylong event. Machado cited government support for Brazil’s nascent wind industry as critical to its growth (Forbes).

UN press sources announced that Rio+20 concluded with more than US$500 billion mobilized with over 700 “commitments” made. World leaders finalized the outcome document agreement, which is intended to advance action on sustainable development (The Rio Times).

INTERNATIONAL

The outcome of a political standoff in Paraguay may well depend on the response of Dilma Rousseff, Brazil’s president. Brazil is Paraguay’s biggest trading partner, and its purchases of electricity from a dam the two countries share are crucial for the Paraguayan economy (The Economist).

Ecuadorean plaintiffs have filed a second lawsuit outside the Andean country, this time in Brazil, in a bid to enforce an $18 billion court ruling against U.S. oil company Chevron for polluting the Amazon, their lawyers said (Reuters).

China has offered to set up a $10bn (£6.4bn) credit line for Latin American countries to support infrastructure projects in the region. The proposal was made by China’s Premier Wen Jiabao as he wrapped up his visit to the region. He also proposed a free trade pact between China and South American trade bloc Mercosur, which includes Brazil, Argentina, Uruguay and Paraguay (BBC).

DEFENSE & SECURITY

U.S.-based Boeing and Brazil’s Embraer said they would collaborate on some aspects of developing Embraer’s KC-390 military transport and refueling jet, tightening relations between the two countries’ defense industries (Reuters).

Brazil will offer inmates in its crowded federal penitentiary system a novel way to shorten their sentences: four days less for every book they read (Reuters).

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