Brazil’s Post-Impeachment Economics

Financial markets’ renewed fondness for Brazil—the country’s stock market has rallied 60 percent this year—is hard to square with the country’s increasingly worrisome political and economic realities. While markets bask in the post-impeachment glow following the official ouster of former president Dilma Rousseff, prospects become starker for the Temer administration. Michel Temer, who officially assumed office on August 31, will need to reverse a fiscal deficit of 10 percent of GDP—four times la

Source: Peterson Institute (PIIE)