Brazil

The need to cut spending runs counter to the pressing concerns over joblessness and recession in the near term

Uncertainty about timing and pace of US rates rises weighs on central bank policy in developed and emerging markets

The reserves position is strong enough to bolster the real if needed, but macroeconomic relief is elusive

The protracted recession and difficulties with the primary surplus may make it difficult to avoid a second downgrade

The scandal has far-reaching implications, not least for the president and other PT leaders

Congress and the Supreme Court are at loggerheads over corporate campaign finance, but the issue will not fade away

Six months into her term, Rousseff has little scope pushing reforms, and impeachment is still very much on the table

Although Rousseff currently suffers from considerable weakness, the prognosis for future governments is also poor