by Kaisa Stucke, CFA
On August 31, Brazilian President Dilma Rousseff was impeached on charges of breaking budgetary laws, ending nine months of political infighting. The Brazilian Senate voted 61-20 to permanently remove her from her presidential post. Rousseff’s former vice president, Michel Temer, led the impeachment process and has assumed the presidential duties.
This week we will look at the current political landscape of Brazil under the new president. We will briefly describe the country’s recent political history and look at the specifics of Brazil’s economic development. We will discuss the conditions that led to the impeachment and the new president’s possible policy path. As usual, we will conclude with market ramifications.