Brazil

WhatsApp has been blocked across Brazil for three days. A judge has ordered the Facebook-owned chat service to be suspended from the internet after the popular messaging app refused to hand over encrypted data to the Brazilian government. CNET reports: This isn’t the first time WhatsApp, which Facebook bought in 2014 for $19 billion, has clashed with authorities in Brazil. In December, a judge ordered the shutdown of WhatsApp from the country for two days after not complying with a criminal investigation, but the ruling was overturned the next day.

Source: slate.com

In the past few weeks we have been discussing the different measures the central banks have been taking in an attempt to resolve the current issues. As China was expected to have a hard landing and as Brazil’s economic woes seem to be accelerating rather than improving, it’s not unlikely both countries will continue to dominate the scene of the world economy as they account for half of the BRIC countries.

As reported on Friday afternoon, ahead of Dilma Rousseff's impeachment vote to be held in Brazil's Congress later today, a critical threshold was passed when, according to local Folha newspaper, more than the required 342 votes had been gathered.

Moments ago, in the first of two closely anticipated and watched votes, a special committee in Brazil's lower house voted 38 to 27 to begin the impeachment process against president Dilma Rousseff.

The committee voted on a report presented last week that concluded Rousseff bypassed Congress in authorizing credits to mask a growing budget deficit. While the report is not binding, the vote to confirm or reject it is the first real barometer on the prospect for impeachment.

Submitted by George Greenwood via The Foundation For Economic Education,

Brazil has faced a sharp change in its economic fortunes. Graft, mismanagement of growth dividends and protectionism has put dreams of a seat at the top table on hold.

At the heart of this regression has been the beleaguered president Dilma Rousseff.