A brief update on the on-going corruption investigations and current political situation in Brazil. Thousands, sometimes millions of people have protested against (in some combination): corruption, the currently-in-power Workers’ Party, President Rousseff, and ex-President Lula.There have been counter-protests, but in general they have been smaller as the Workers’ Party’s support has plummeted as a result of the scandal. Impeachment seems imminent.
Oh, how the mighty have fallen. A few years ago, Brazil was the darling of the BRICS countries: host of the World Cup and Olympics, 7% annual growth, lifting millions out of poverty… now, inflation if up, growth is not just down but negative, joblessness is on the rise, the government is barely functioning, and people are questioning whether Brazil can manage the Olympics.
How did it all go so wrong so fast? It’s a complex question with a complex answer, and part of the answer has been brewing for longer than you might think.