Afro-Brazilian entrepreneurs, Brazil credit ratings downgrade 2015, Brazil economic crisis, Brazil financial crisis, Brazil political instability, Rio 2016 Olympics
Brazil President Dilma Rousseff
Planalto Palace – Brasilia – September 2015
Photo Credit: Reuters/Ueslei Marcelino
Since Brazil lost the 2014 FIFA World Cup, the country has endured even more woes that now threaten the upcoming Rio 2016 Olympics.
Fallout from ongoing investigations into the Petrobras graft scandal aggravated an already sputtering economy, partly due to a weak global commodity market. The government’s efforts to cut public spending hit workers hard, sending them into the streets in protest. Riding on the wave of public discontent, the right-wing opposition party called for the impeachment of President Dilma Rousseff. This has further increased the country’s political instability. Continue reading