Rough Road Ahead for Rousseff

Members Only Subscribe to read the full article

Unstable, corrupt, plagued by scandal—these describe Brazil’s current economic and political climate, a big transformation from its image of an advancing economy with secure investment opportunities.  How did Brazil, one of the BRICS (Brazil, Russia, India, China, & South Africa) countries, go from boom to bust so rapidly?

It begins with Petróleo Brasileiro S.A. (Petrobras), the semi-public Brazilian energy corporation that has recently been mired in scandals.  In September 2013, Petrobras reported the largest debt of all global oil producers.  It was later uncovered that Petrobras inflated the value of service contracts and funneled the excess funds into its executives’ bank accounts and to political party members.  Alleged culprits include the treasurer of the Workers’ Party, the sitting President’s political party, and high-ranking members of Brazil’s congress.  There are also allegations that Brazilian President Dilma Rousseff, who was Petrobras’ Chairwoman from 2003 to 2010, was involved in this corruption, though there is currently no evidence to back these claims. 

\”The Cipher Brief has become the most popular outlet for former intelligence officers; no media outlet is even a close second to The Cipher Brief in terms of the number of articles published by formers.” – Sept. 2018, Studies in Intelligence, Vol. 62 No.

Access all of The Cipher Brief\’s national-security focused expert insight by becoming a  Cipher Brief Level I Member .  

 

 

Continue Reading

Get access to all our briefs

Sign up Today

Search

Close