Rousseff Is Ousted, and Investing in Brazil Is Getting Trickier
- Stocks have surged in 2016, and some investors see more gains
- Local government bonds are a favorite investment at Aberdeen
Brazil Votes to Impeach Rousseff for Breaking Budget Laws
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For months, investing in Brazil has been a breeze. Buying into any asset class delivered some of the world’s biggest gains on wagers that President Dilma Rousseff was about to be ousted and new leadership would restore growth and curb a record fiscal deficit.
Now that Rousseff has been impeached -- the Senate voted 61-to-20 for her removal -- picking stocks and bonds is about to get more complicated. Here are what some of the country’s top analysts and investors are suggesting for the months ahead as newly installed President Michel Temer starts his administration with a mandate to tame inflation, pull Brazil out of its worst recession in a century and shore up the country’s budget.