IBOV 175,168.74 ▲ 0.02% IPSA 11,470.79 ▲ 0.89% IPC MEX 65,829.98 ▼ 0.55% MERVAL 2,992,575 ▼ 0.29% COLCAP 2,488.20 ▼ 0.06% BVL PERÚ 60,779.49 ▲ 0.58% USD/BRL5.21▲ 1.00% USD/MXN17.04▲ 0.33% USD/CLP927.52▲ 0.12% USD/COP3,208▲ 2.58% USD/PEN3.35▼ 0.05% USD/ARS1,513▲ 0.05% USD/UYU40.27▲ 1.50% USD/PYG5,900▲ 0.50% USD/BOB11.78▲ 3.59% USD/DOP58.61▲ 0.96% USD/CRC446.65▲ 0.98% USD/GTQ7.62▲ 2.25% USD/HNL26.84▲ 0.40% USD/NIO36.62▼ 0.02% USD/VES789.69▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.77% EUR/BRL6.05▲ 0.87% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 175,168.74 ▲ 0.02% IPSA 11,470.79 ▲ 0.89% IPC MEX 65,829.98 ▼ 0.55% MERVAL 2,992,575 ▼ 0.29% COLCAP 2,488.20 ▼ 0.06% BVL PERÚ 60,779.49 ▲ 0.58% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Impeachment of Former Speaker in Brazil Expected Monday

By · September 12, 2016 · 2 min read

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By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Former Speaker of Brazil’s Chamber of Deputies, Eduardo Cunha, is expected to be impeached today by the country’s Lower House. Cunha is accused of receiving bribes related to Operação Lava-Jato (Operation Carwash) as well as lying to lawmakers about having foreign bank accounts.

Brazil, Rio de Janeiro, Chamber Speaker Eduardo Cunha defends himself in front of Chamber's Ethics Board
Former Chamber Speaker Eduardo Cunha is expected to be impeached on Monday by Chamber of Deputies, photo by Wilson Dias/Agência Brasil.
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“It is important that members are present and that each vote [according] to his conscience. The important thing is that everyone is here – this is an issue that has to end on Monday, so that the House can return its regular voting order,” Chamber Speaker, Rodrigo Maia told journalists last week when scheduling the vote.

Congressional sessions are usually not held Mondays and Fridays in Brazil, but according to Maia an exception was made because the process has been ‘dragged on’ long enough.

Local media has reported that Cunha plans to speak at Monday’s hearing, claiming that this impeachment process is retaliation for last month’s impeachment of now former President Dilma Rousseff.

Cunha is generally regarded as being responsible for pushing forward the process which eventually led to Rousseff’s impeachment. Due to political pressure, Cunha resigned as Speaker of the Chamber of Deputies in July, but remained a Congressional representative.

Cunha’s allies are expected to ask for the eleven-month-old process, to be divided into two, with representatives voting whether or not to take away his legislative post but also in a separate vote, deciding if his political rights will be suspended for the next eight years. According to analysts by separating the issues, Cunha’s allies hope to safeguard Cunha’s rights to run in 2018 again for Congress.

For Cunha to be permanently ousted from Congress and have his political rights suspended, a simple majority of votes, at least 257 of the total 513 representatives need to vote in favor of the impeachment. The voting session is expected to start in the early evening and extend into the night on Monday.

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