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Order and progress?

Por: Latin LawyerImprimirVisualizar em PDF

The outlook for Brazil is not good. For starters, the economy is mired in recession and predicted to continue contracting for the next two years. Then there is the small matter of Operação Lava Jato. Involving US$2.1 billion in kickbacks to over 50 politicians and many more businessmen, the scandal and subsequent probe into the state-controlled oil company Petrobras has paralysed swathes of the energy and construction sectors, and even threatens to bring down Brazil's President Dilma Rousseff, who was chair of the company during the period when graft was alleged to have happened. Add to the mix a rising unemployment rate and a rapidly weakening currency, currently at an 11-year low, and you have the ingredients for a perfect storm.

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