BRICS Report Brazil

US Elections have resulted in uncertainty: Brazil Central Bank Brazil's Central Bank (BC) President Ilan Goldfajn said Monday (Nov. 21) that the outcome of the US presidential election, won by magnate Donald Trump, brought an element of uncertainty to markets, but reiterated that the institution has kept a close watch on the development of international markets and worked to prevent the effects of "external shocks" from threatening macroeconomic stability.   The Trump victory adds pressure to pass crucial reforms in Brazil and soon! Donald Trump's U.S. election victory and the ensuing market volatility should encourage Brazilian policymakers to push ahead with ambitious economic reforms that help cushion the country from global turmoil, business executives and bankers said on Tuesday.   IMF outlook suggests Brazil is clawing its way out of recession slowly While there are signs that the recession is nearing its end, Brazil’s economic prospects hinge on the new government’s ability to implement ambitious structural reforms to restore fiscal sustainability, the IMF said in its annual review on the state of the Brazilian economy. According to the report, Latin America’s largest economy has suffered its deepest recession in decades.   Brazil to Increase Culture Ministry Budget by 40 Percent The Brazilian Ministry of Culture will have a 40% budgetary increase in 2017 – hardline government is appeasing some of the protesters. President of Brazil, Michel Temer, announced this week that his administration would be increasing the Ministry of Culture’s budget by more than forty percent. The ministry was the focus of one of the first ‘conflicts’ between Temer and the Brazilian population when the then interim leader announced it was nesting the ministry into the Ministry of Education.See omnystudio.com/listener for privacy information.