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Brazil’s President Scrambles to Hold Coalition Together

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Brazil’s President Dilma Rousseff scrambled on Wednesday to hold together her crumbling ruling coalition by negotiating key government posts with remaining allies, aides said, as key partners discussed abandoning her amid impeachment proceedings.

A day after Rousseff’s biggest coalition partner broke away and ordered its six ministers in her Cabinet to resign, another coalition ally – the Progressive Party (PP) – convened a meeting for April 11-12 to decide whether to leave as well.

A presidential aide said the government was reaching out to individual members of allied parties to offer positions that have opened up after the Brazilian Democratic Movement Party (PMDB) bolted on Tuesday.

With the lower house of Congress due to vote in mid-April on whether Rousseff should stand trial in the Senate for allegedly manipulating government accounts to win re-election in 2014, the PMDB’s decision on Tuesday to abandon her government was a heavy blow.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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