Brazil / by Lewis McKinnon

The Brazilian Senate officially commenced the impeachment trial for suspended President Dilma Rousseff, therefore granting 180 days to conduct the trial hearings. Brazil’s wide-ranging corruption scandal continued as an array of corruption and money laundering charges incriminated 30 per cent of Brazil’s National Congress. According to the Brazilian Constitution, sitting President Michel Temer cannot be prosecuted for accepting bribes and seeking illegal campaign funding until after his term expires. Allegations incriminating Brazilian Tourism Minister, Henrique Alves, led to his resignation. An operation stemming from the larger investigation, Operation Car Wash, resulted in the arrest of Paulo Bernardo, the former Minister of Planning and Communications. The Brazilian Senate appointed a new president of the central bank in an attempt to foster positive economic externalities. The Banco Central do Brasil (The Central Bank of Brazil) met to discuss monetary policy and inflation control. Interim president Michel Temer proposed a constitutional amendment to foster economic stability by capping government spending. On 10 June, oil workers held a union strike against the interim president’s oil policies. China plans to relocate steel production operations to Brazil. The United Kingdom (UK) referendum vote to leave the European Union (EU) sent economic shock waves across the globe and subsequently will result in short and long term consequences for Brazil.