IBOV 171,906.72 ▲ 0.51% IPSA 11,537.98 ▲ 1.76% IPC MEX 65,770.85 ▲ 0.06% MERVAL 2,995,129 ▲ 2.81% COLCAP 2,510.72 ▲ 2.09% BVL PERÚ 60,222.25 ▼ 0.17% USD/BRL5.15▲ 0.02% USD/MXN16.94▼ 0.06% USD/CLP911.58▼ 0.14% USD/COP3,057▲ 0.42% USD/PEN3.35— 0.00% USD/ARS1,509▲ 0.63% USD/UYU40.18▼ 0.03% USD/PYG5,989▼ 0.11% USD/BOB11.44▲ 0.09% USD/DOP58.34▼ 0.53% USD/CRC446.05▼ 0.89% USD/GTQ7.62▼ 0.04% USD/HNL26.82▲ 0.02% USD/NIO36.62▲ 0.58% USD/VES783.11▲ 0.53% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.25% EUR/BRL6.01▲ 0.31% 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 171,906.72 ▲ 0.51% IPSA 11,537.98 ▲ 1.76% IPC MEX 65,770.85 ▲ 0.06% MERVAL 2,995,129 ▲ 2.81% COLCAP 2,510.72 ▲ 2.09% BVL PERÚ 60,222.25 ▼ 0.17% 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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President Rousseff Aims at Cunha and Temer in Brazil

By · April 20, 2016 · 3 min read

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By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Several days after Brazil’s Chamber of Deputies voted to authorize the advancement of impeachment proceedings against her, President Dilma Rousseff continued to take aim at her primary antagonists, the president of the Chamber of Deputies, Eduardo Cunha (PMDB-RJ), and her Vice President, Michel Temer (PMDB).

Brazil's President Dilma Rousseff, impeachment, Rio de Janeiro, Brazil, Brazil News
Brazil’s President Dilma Rousseff spoke with foreign press yesterday about the impeachment proceedings, photo by Roberto Stuckert Filho/PR.
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President Rousseff also made references to the mega corruption scandal, termed Operation Lava Jato (Carwash), and reinforcing that she has not been implicated in the investigation.

When referring to Eduardo Cunha, she pointed out that he should not be in a position to judge any process, as he himself is under investigation. According to the President, the process of impeachment against her is a retaliation by Cunha, since the PT voted for the process to get underway against him in the Ethics Committee of the House. “This process was initiated by a misuse of power, revenge, an explicit revenge.”

Rousseff also made reference to Michel Temer, saying it is “very unusual” that a vice-president has taken his actions. “The conspiracy is given by the fact that the only way to come to power in Brazil is using methods, turning and hiding the fact that this process of impeachment, is not actually an impeachment process, but is an attempt indirect election of a group that otherwise would not have access [to power] the only justifiable means.”

The president said she is the victim of a process of half truths when talking about impeachment and outright political dissent cannot be used as a basis for such a process. During the interview, she also defended the legality of the government’s financial operations that supported the impeachment.

The New York Times reported that Rousseff’s administration ‘borrowed’ approximately US$11 billion from state banks, an amount equal to almost one percent of the economy during her re-election year in 2014. The money is believed to mainly have been used to fund Bolsa Familia and Minha Casa, Minha Vida, which are the calling cards of the PT’s (Workers’ Party) thirteen years in power.

Brazil, Rio de Janeiro, Eduardo Cunha
Chamber of Deputies President, Eduardo Cunha, speaks to reporters outside Congress last year, photo by Antonio Cruz/Agência Brasil.

Yet experts seem divided over if the financial ‘cooking of the books’ is an impeachable offense. Carlos Pereira, a political scientist at Fundação Getúlio Vargas told The New York Times, “The government lied about the messy state of their house by putting up a pretty window, […] The government betrayed the people, and for this they must be punished.”

Oscar Vilhena Vieira, a professor of constitutional law at Fundação Getúlio Vargas, pointed out that the law required that Congress approve changes to the annual budget, and prohibited the president from borrowing money from state-owned banks. “The nature of these crimes are administrative crimes,” he said. “They are not penal crimes, so you cannot be put in prison because of them, but you can lose your mandate.”

Meanwhile, President Rousseff spoke about Operation Lava Jato (Carwash) when asked if she knew there was corruption in the party and Petrobras. Rousseff responded that is typical of corruption “be done in the dark, be hidden.” Adding “It was revealed and released in the light now, by my government and of President Lula [former President Luiz Inacio Lula da Silva], because all legislation that allows such research was done on my government or in it.”

Both ex-President Lula and Eduardo Cunha are being investigated in two different inquiries of the Lava Jato corruption scandal. While a witness said Cunha had received a US$5 million bribe for a Petrobras contract to go through, Lula is being investigated for influence peddling in contracts for Odebrecht in Cuba and the Dominican Republic.

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