Data released on Monday showed that economic activity in the world’s seventh-largest economy fell 8% this January from a year before. That makes it the 11th month in a row that activity has fallen.
This is going to be a difficult problem to solve because Brazil’s government is a complete mess right now.
Millions of Brazilians took to the streets over the weekend, peacefully protesting corruption that has reached the highest levels of the country’s government. It all stems from a 2014 corruption sting called “Operation Car Wash,” which showed the ruling party was engaged in widespread corruption of Petrobras, the country’s massive quasi-state oil company.