Brazil's economy, the biggest in Latin America, contracted by a record 9.7 percent in the second quarter of 2020
Virus-hit Brazil's unemployment rate rose to 13.3% in the April-June quarter, its highest in three years.
South American nations are more dependent on global commodity markets than the Caribbean, Central America or Mexico, whose fortunes are more closely linked to the strengthening U.S. economy.
BNDES, the huge development bank owned by the Brazilian government, seems to keep turning up in the state's deepening crisis, as does its chief, Luciano Coutinho
Fitch dealt Brazil's credit rating a one-step cut on Thursday to just above a junk rating, saying the government faces increased fiscal pressures as the economy contracts.
Last week, German sailor Erik Heil revealed that he had to undergo an operation on a serious skin infection after competing in the Olympic test regatta at Guanabara.
BRASILIA - Brazilian President Dilma Rousseff kicked off a second term Thursday, vowing to tackle corruption and revamp the economy as her government reels from a series of setbacks.
These might be the last "oles" President Dilma Rousseff will hear for a while. Brazil's economy is in a ditch, inflation is 6.75 percent, running two points above target. Unemployment is low, not because of an opportunity bonanza but a shrinking labor pool as idled workers give up job hunting.