Economics
Don't Count on Coffee to Save Brazil From Its Recession
Government is relying on a weaker currency to lead economy out of recession
Coffee plantation in the south of Minas Gerais State, Brazil. Currently, the coffee harvest in underway and will go until the end of August.
Photographer: Patricia MonteiroThis article is for subscribers only.
Brazil is betting on exports to snap it out of recession. Don't count on it.
The largest economy in Latin America is mired in the deepest contraction in a quarter-century, saddled with spiralling prices and beset by a corruption scandal that had protesters pouring into the streets clamoring for President Dilma Rousseff's impeachment. The government just unveiled a fresh round of spending cuts and tax hikes to stave off further credit downgrades.