A Brazilian congressional committee has recommended the impeachment of President Dilma Rousseff. For background on this story and what was recently seen as one of the world’s champion developing economies has plunged into chaos see Jonathan Manthorpe’s column published by F&O on March 17th. Excerpt of the piece, BRICS turning to rubble:
The leadership chaos in Brazil and South Africa is a timely reminder for emerging economies that unless they also press ahead with political, administrative, judicial and social reform they are doomed.
The presidents of both Brazil and South Africa are clinging to office by their fingernails in the face of accusations of corruption and administrative incompetence. Both Jacob Zuma in South Africa and Dilma Rousseff in Brazil have already taken confidence in their countries’ economies down with them and will probably do more lasting damage to the political institutions before their scandals are resolved…. continue reading BRICS turning to rubble
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