Brazil

Poor water management and lack of rainfall risk widespread political and economic consequences

A contraction this year would be the first since 2009 -- assuming 2014 GDP figures exceeded zero growth

Sluggish growth and fiscal austerity will crimp lending this year -- which in turn may hamper economic recovery

Scrutiny of state companies and interventionist practice may curb BB's growth

The bill curbing executive moves to cut spending has limited scope but points to a more combative Congress

Bendine's appointment will satisfy no one and appears to be a new political 'own goal'

The Petrobras scandal will add fuel to wider grievances that may increase as the year progresses

A weaker exchange rate and public spending measures will drive inflation despite consumer gloom