Brazil

Austerity measures will pass but efforts to reform the pension system are likely to founder again

The current account deficit will fall sharply as demand for imports stalls

Alleged efforts to halt the Petrobras probe may end any hopes that the new government might curb corruption

Recession and falling revenues are boosting the deficit, but spending cuts could see GDP plummet further

Anger over the extent of corruption goes far beyond any political party and may turn on the interim government

The Central Bank nominee has himself warned against market enthusiasm in light of political and economic challenges

Unpopularity, recession and the difficulties of building a stable coalition mar the acting president's prospects

The first-quarter price rally is proving unsustainable due to underlying market oversupply