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src="//upload.wikimedia.org/wikipedia/en/thumb/3/35/Brazil%27s_fall_%28The_Economist%29.jpg/220px-Brazil%27s_fall_%28The_Economist%29.jpg" decoding="async" width="220" height="289" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/3/35/Brazil%27s_fall_%28The_Economist%29.jpg 1.5x" data-file-width="275" data-file-height="361" /></a><figcaption>January 2016 cover of <a href="/wiki/The_Economist" title="The Economist">The Economist</a> magazine about the crisis. The cover depicts then-president Dilma Rousseff.</figcaption></figure> From mid-2014 onward, <a href="/wiki/Brazil" title="Brazil">Brazil</a> experienced a severe <a href="/wiki/Financial_crisis#Wider_economic_crisis" title="Financial crisis">economic crisis</a>.<a href="#cite_note-1">[1]</a><a href="#cite_note-2">[2]</a> The country's <a href="/wiki/Gross_domestic_product" title="Gross domestic product">Gross Domestic Product</a> (GDP) fell by 3.5% in 2015 and 3.3% in 2016, after which a small economic recovery began. That recovery continued until 2020, when the <a href="/wiki/COVID-19_pandemic_in_Brazil" title="COVID-19 pandemic in Brazil">COVID-19 pandemic</a> began to impact the economy again. The economic crisis occurred alongside a political crisis that resulted in the <a href="/wiki/Impeachment_of_Dilma_Rousseff" title="Impeachment of Dilma Rousseff">impeachment of president Dilma Rousseff</a>. These events combined caused mass popular dissatisfaction with the political system. The cause of the crisis was the aforementioned political crisis, as well as the <a href="/wiki/Commodity_price_shocks#Second_half_of_2014" title="Commodity price shocks">2014 commodity price shock</a>, which negatively affected Brazil's exports and reduced the entrance of foreign capital into the economy. However, the most important cause was internal, which is associated with economic measures that didn't achieve the expected results. Adopted in 2011, these measures are known as the <a href="/w/index.php?title=Nova_matriz_econ%C3%B4mica&action=edit&redlink=1" class="new" title="Nova matriz econômica (page does not exist)">nova matriz econômica</a> [<a href="https://pt.wikipedia.org/wiki/Nova_matriz_econ%C3%B4mica" class="extiw" title="pt:Nova matriz econômica">pt</a>] ("new economic matrix", in a free translation). During the economic crisis, high unemployment rates were reported throughout the country, and there was widespread uncertainty regarding Brazil's economic future following a series of political scandals.<a href="#cite_note-3">[3]</a> In the first quarter of 2017, Brazil's GDP rose by 1%. This was the first GDP increase to occur in eight consecutive quarters. Finance Minister <a href="/wiki/Henrique_Meirelles" title="Henrique Meirelles">Henrique Meirelles</a> announced that Brazil had "emerged from the greatest crisis of the century".<a href="#cite_note-4">[4]</a> However, the rise in GDP marked only the end of a technical recession, not the end of the crisis. The <a href="/wiki/Recession" title="Recession">recession</a> was the second most severe in the country's <a href="/wiki/Economic_history_of_Brazil" title="Economic history of Brazil">history</a>,<a href="#cite_note-5">[5]</a><a href="#cite_note-6">[6]</a><a href="#cite_note-book-7">[7]</a> and was followed by the slowest recovery.<a href="#cite_note-book-7">[7]</a> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Context">Context</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=1" title="Edit section: Context">edit</a>]</div> <div class="mw-heading mw-heading3"><h3 id="Economic">Economic</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=2" title="Edit section: Economic">edit</a>]</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Brazilian_bonds.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Brazilian_bonds.webp/300px-Brazilian_bonds.webp.png" decoding="async" width="300" height="97" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Brazilian_bonds.webp/450px-Brazilian_bonds.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Brazilian_bonds.webp/600px-Brazilian_bonds.webp.png 2x" data-file-width="1623" data-file-height="527" /></a><figcaption>Brazilian bonds had an <a href="/wiki/Inverted_yield_curve" title="Inverted yield curve">Inverted yield curve</a> in August 2014 when the 1 year bond got above the 10 year bond <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend">  10 year bond</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  5 year bond</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  1 year bond</div> </figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Brazil_inflation_1996-2022.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1d/Brazil_inflation_1996-2022.webp/300px-Brazil_inflation_1996-2022.webp.png" decoding="async" width="300" height="73" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1d/Brazil_inflation_1996-2022.webp/450px-Brazil_inflation_1996-2022.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1d/Brazil_inflation_1996-2022.webp/600px-Brazil_inflation_1996-2022.webp.png 2x" data-file-width="1647" data-file-height="400" /></a><figcaption>Brazil inflation 1996-2022</figcaption></figure> Brazil's economy is largely dependent on the export of <a href="/wiki/Commodities" class="mw-redirect" title="Commodities">commodities</a>, particularly iron ore, petroleum and soy. From the late 1990s till 2012, prices for these export commodities rose significantly (partly because of increasing demand from <a href="/wiki/China" title="China">China</a>), resulting in about two decades of economic growth. As a result of the <a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a>, Brazil's GDP dropped sharply and unemployment rose.<a href="#cite_note-agenciabrasil.ebc.com.br-8">[8]</a> During <a href="/wiki/Luiz_In%C3%A1cio_Lula_da_Silva" title="Luiz Inácio Lula da Silva">Luiz Inácio Lula da Silva</a>'s left-wing presidency from 2003 to 2010, the government redistributed wealth through welfare programs and raised the <a href="/wiki/Minimum_wage" title="Minimum wage">minimum wage</a> in order to increase consumption.<a href="#cite_note-:2-9">[9]</a> In response to critics of Lula's <a href="/wiki/Socialist_economics" title="Socialist economics">socialist economic</a> stance, his successor, Dilma Rousseff (president during the crisis), introduced <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomic</a> <a href="/wiki/Tax_exemption" title="Tax exemption">tax exemptions</a> and <a href="/wiki/Subsidy" title="Subsidy">subsidies</a>. These policies are widely acknowledged as a major factor in the 2014–16 economic crisis.<a href="#cite_note-book-7">[7]</a> <div class="mw-heading mw-heading3"><h3 id="Political">Political</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=3" title="Edit section: Political">edit</a>]</div> The economic crisis was followed and intensified by a political crisis. In 2014, a series of corruption scandals uncovered by <a href="/wiki/Operation_Car_Wash" title="Operation Car Wash">Operation Car Wash</a> engulfed many influential politicians. In the presidential election of the same year, President <a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">Dilma Rousseff</a> was re-elected to a second term, defeating the <a href="/wiki/Brazilian_Social_Democracy_Party" title="Brazilian Social Democracy Party">PSDB</a> candidate <a href="/wiki/A%C3%A9cio_Neves" title="Aécio Neves">Aécio Neves</a> by a narrow margin.<a href="#cite_note-10">[10]</a> The result was not recognized by a section of the opposition and provoked popular discontent.<a href="#cite_note-11">[11]</a> Due to the disputed legitimacy of the election, the Operation Car Wash investigation, and the economic crisis; dissatisfaction with the government became widespread. By 2015, Rousseff's approval rating had plummeted to 8% according to a <a href="/wiki/Datafolha" title="Datafolha">Datafolha</a> survey.<a href="#cite_note-12">[12]</a><a href="#cite_note-13">[13]</a> <div class="mw-heading mw-heading2"><h2 id="Causes">Causes</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=4" title="Edit section: Causes">edit</a>]</div> <div class="mw-heading mw-heading3"><h3 id="Errors_in_macroeconomic_policy">Errors in macroeconomic policy</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=5" title="Edit section: Errors in macroeconomic policy">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Brazil%27s_fall_(The_Economist).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/3/35/Brazil%27s_fall_%28The_Economist%29.jpg/200px-Brazil%27s_fall_%28The_Economist%29.jpg" decoding="async" width="200" height="263" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/3/35/Brazil%27s_fall_%28The_Economist%29.jpg 1.5x" data-file-width="275" data-file-height="361" /></a><figcaption>Cover of <a href="/wiki/The_Economist" title="The Economist">The Economist</a> in January 2016 ("Brazil's fall: Dilma Rousseff and the disastrous year ahead"), highlighting the negative aspect of the then-president</figcaption></figure> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/w/index.php?title=New_economic_matrix&action=edit&redlink=1" class="new" title="New economic matrix (page does not exist)">New economic matrix</a></div> According to <a href="/wiki/Gustavo_Franco" title="Gustavo Franco">Gustavo Franco</a>, President of the Central Bank during the <a href="/w/index.php?title=Fernando_Henrique_Cardoso_government&action=edit&redlink=1" class="new" title="Fernando Henrique Cardoso government (page does not exist)">FHC government</a>, the main cause of the crisis was internal and related to "local macroeconomic measures that went wrong."<a href="#cite_note-14">[14]</a> A 2017 academic study on the subject arrived at the following conclusion regarding the origin of the crisis:<a href="#cite_note-:3-15">[15]</a> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote">The exhaustion of the NEM [new economic matrix] due to the loss of the government's financial capacity reduced several investments in the Brazilian economy from 2015 onward, with the sharp reduction in Petrobras' investment being a notable example. The ensuing fiscal sustainability crisis raised country risk, long-term interest rates, and uncertainty, substantially reducing consumption and investment in 2015 and 2016. The reestablishment of prices and the necessary monetary policy to bring inflation back to target also contributed to the recession, mainly due to the loss of credibility of the Central Bank. [...]<div class="templatequotecite">— <cite><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFFilho2017" class="citation journal cs1">Filho, Fernando de Holanda Barbosa (2017). <a rel="nofollow" class="external text" href="https://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-40142017000100051">"A crise econômica de 2014/2017"</a>. Estudos Avançados. 31 (89). Retrieved 6 February 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Estudos+Avan%C3%A7ados&rft.atitle=A+crise+econ%C3%B4mica+de+2014%2F2017&rft.volume=31&rft.issue=89&rft.date=2017&rft.aulast=Filho&rft.aufirst=Fernando+de+Holanda+Barbosa&rft_id=https%3A%2F%2Fwww.scielo.br%2Fscielo.php%3Fscript%3Dsci_arttext%26pid%3DS0103-40142017000100051&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"></cite></div></blockquote> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Entrevistas_Diversas_(14879045080).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Entrevistas_Diversas_%2814879045080%29.jpg/220px-Entrevistas_Diversas_%2814879045080%29.jpg" decoding="async" width="220" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Entrevistas_Diversas_%2814879045080%29.jpg/330px-Entrevistas_Diversas_%2814879045080%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Entrevistas_Diversas_%2814879045080%29.jpg/440px-Entrevistas_Diversas_%2814879045080%29.jpg 2x" data-file-width="2080" data-file-height="1384" /></a><figcaption><a href="/wiki/Guido_Mantega" title="Guido Mantega">Guido Mantega</a>, Minister of Finance during the first Dilma government. In July 2012, Mantega admitted for the first time that the government practiced a new "macroeconomic matrix".<a href="#cite_note-16">[16]</a></figcaption></figure> Previously, the state had played a crucial role in expanding the domestic market through consumer incentives, such as raising the minimum wage, income transfers, and credit expansion. However, by the end of the <a href="/w/index.php?title=Lula_government&action=edit&redlink=1" class="new" title="Lula government (page does not exist)">Lula government</a>, there was a growing perception that this strategy would be unsustainable.<a href="#cite_note-FOOTNOTECarvalho201811-17">[17]</a> On May 26, 2011, an article published in <a href="/wiki/Folha_de_S.Paulo" title="Folha de S.Paulo">Folha de S.Paulo</a> titled "an agreement for the Brazilian industry" reaffirmed the importance of that economic policy of the Lula government but criticized the shrinking share of the national industry in GDP and the substitution of domestic production with imported industrial products. The article was signed, among others, by <a href="/wiki/Paulo_Skaf" title="Paulo Skaf">Paulo Skaf</a>, president of the <a href="/w/index.php?title=Federation_of_Industries_of_the_State_of_S%C3%A3o_Paulo&action=edit&redlink=1" class="new" title="Federation of Industries of the State of São Paulo (page does not exist)">Federation of Industries of the State of São Paulo</a> (FIESP), who years later would request and support <a href="/wiki/Impeachment_of_Dilma_Rousseff" title="Impeachment of Dilma Rousseff">Dilma's impeachment</a>.<a href="#cite_note-FOOTNOTECarvalho201857-18">[18]</a><a href="#cite_note-19">[19]</a> Dilma, an economics graduate from an industrialist school, agreed with the demands. Therefore, the new economic matrix was a set of measures to benefit the industrial sector, aiming to reduce the costs of national companies and increase competitiveness against foreign competition. However, the industry did not react. Industrial production, which had grown by 2.7% in 2010, declined by 0.9% and 3.7% in the following two years, damaging government revenue and, consequently, public investments.<a href="#cite_note-FOOTNOTECarvalho201858-20">[20]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_(16989641502).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/00/CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg/220px-CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg" decoding="async" width="220" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/00/CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg/330px-CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/00/CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg/440px-CAE_-_Comiss%C3%A3o_de_Assuntos_Econ%C3%B4micos_%2816989641502%29.jpg 2x" data-file-width="3775" data-file-height="2512" /></a><figcaption>Joaquim Levy, Minister responsible for fiscal adjustment, in March 2015</figcaption></figure> In an attempt to reverse the deterioration in public accounts due to falling revenue, a fiscal adjustment was implemented in 2014, which included highly recessive policies (i.e., aimed at reducing expenses and increasing taxes). These policies mainly involved cutting public expenses and investments, such as cuts to the <a href="/wiki/Growth_Acceleration_Program" class="mw-redirect" title="Growth Acceleration Program">Growth Acceleration Program</a> (PAC). The adjustment continued throughout 2015. In that year, there was a sharp reduction in administered prices. (See section <a href="#Anticrisis_measures">Anticrisis measures</a>.) These measures further deepened the crisis because, according to Carvalho, there was a decrease in public investments.<a href="#cite_note-FOOTNOTECarvalho201897–98-21">[21]</a> Additionally, the sharp adjustment of administered prices and the significant depreciation of the currency<a href="#cite_note-22">[22]</a> led to soaring inflation, reaching over 10%. This increase, in turn, caused the <a href="/w/index.php?title=Selic_Rate&action=edit&redlink=1" class="new" title="Selic Rate (page does not exist)">Selic Rate</a> to rise successively until reaching 14.25% per year.<a href="#cite_note-FOOTNOTECarvalho2018101-23">[23]</a><a href="#cite_note-FOOTNOTECarvalho201898-24">[24]</a> The fiscal adjustment was not successful even in its main objective, which was to achieve a surplus in public accounts, as the recession in which the country found itself reduced government revenues.<a href="#cite_note-25">[25]</a> <div class="mw-heading mw-heading3"><h3 id="Commodities_Devaluation">Commodities Devaluation</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=6" title="Edit section: Commodities Devaluation">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Commodity_price_shocks#Second_half_of_2014" title="Commodity price shocks">Commodity price shocks § Second half of 2014</a></div> <table class="wikitable" style="text-align: right; margin-left: 10px; font-size: 85%; float: right;"> <tbody><tr> <td colspan="2">Average annual growth of commodity prices<a href="#cite_note-26">[26]</a> </td></tr> <tr> <th>Period </th> <th>Change (% per year) </th></tr> <tr style="text-align: center;"> <td>1999-2002 </td> <td>10.3 </td></tr> <tr style="text-align: center;"> <td>2003-2005 </td> <td>19.1 </td></tr> <tr style="text-align: center;"> <td>2006-2010 </td> <td>10.5 </td></tr> <tr style="text-align: center;"> <td>2011-2014 </td></tr> <tr style="text-align: center;"> <td>2015-2016 </td></tr> </tbody></table> An external cause identified was the slowdown of the Chinese economy, Brazil's largest trading partner.<a href="#cite_note-:2-9">[9]</a> This slowdown led to a sharp drop in commodity prices, which are the basis of Brazilian exports. As a result, Brazil's trade surplus plummeted and some exporting companies, such as Usiminas and Vale, suffered heavy losses. According to Roberto Dumas, a professor at Insper, the government made a strategic mistake during the commodity supercycle by stimulating consumption instead of prioritizing industrialization and improving productive capacity.<a href="#cite_note-27">[27]</a> According to Steven Tobin from the International Labour Organization (ILO) Research Department, the decrease in external demand, especially from China, combined with the fall in commodity prices in the second half of 2014, were factors that contributed to the crisis. However, Tobin also stated that this unfavorable external scenario revealed structural weaknesses in the country, such as low productivity.<a href="#cite_note-28">[28]</a> Between June and December 2014, the commodity price index published by the International Monetary Fund (IMF) experienced a cumulative decline of 29.3%, which continued to increase until it was interrupted in January 2016.<a href="#cite_note-FOOTNOTECarvalho201895-29">[29]</a> In 2015, The Economist magazine also stated that the immediate causes of the crisis were external,<a href="#cite_note-causas-imediatas-30">[30]</a> and that the decline in commodity prices partly explained the crisis.<a href="#cite_note-31">[31]</a> The publication also argued that then-president Dilma Rousseff could have made better use of the commodity boom of the 2000s to reduce the bloated state, which consumed 36% of GDP in taxes. Instead, the government chose to guarantee subsidized loans and costly tax incentives for favored industries.<a href="#cite_note-causas-imediatas-30">[30]</a> Silvia Matos, a researcher at the Brazilian Institute of Economics (FGV), concluded that external factors were responsible for 30% of the crisis. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">Silvia Matos shows [...] through a comparative analysis that, although other economies have also experienced a growth reduction in recent years, the Brazilian deceleration was more intense. This occurred even when compared to Latin American countries, which form a natural control group for performance comparisons. Then, she confirms this diagnosis through an econometric analysis of panel data with a sample of 14 emerging countries. In fact, the results indicate that only 30% of the Brazilian deceleration can be explained by external factors. Based on this, Silvia Matos concludes that factors specific to our economy are the most relevant in explaining the worsening performance of the Brazilian economy<div class="templatequotecite">— <cite><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFGV2017" class="citation book cs1">FGV (4 April 2017). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=MjY8DwAAQBAJ">A Crise de Crescimento do Brasil</a>. Brazil: Elsevier Brasil. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9788535266382" title="Special:BookSources/9788535266382"><bdi>9788535266382</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Crise+de+Crescimento+do+Brasil&rft.place=Brazil&rft.pub=Elsevier+Brasil&rft.date=2017-04-04&rft.isbn=9788535266382&rft.au=FGV&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DMjY8DwAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"></cite></div></blockquote> <div class="mw-heading mw-heading3"><h3 id="Political_Crisis">Political Crisis</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=7" title="Edit section: Political Crisis">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/w/index.php?title=Dilma_Rousseff_government&action=edit&redlink=1" class="new" title="Dilma Rousseff government (page does not exist)">Dilma Rousseff government</a>, <a href="/wiki/Operation_Car_Wash" title="Operation Car Wash">Operation Car Wash</a>, <a href="/wiki/Impeachment_of_Dilma_Rousseff" title="Impeachment of Dilma Rousseff">Impeachment of Dilma Rousseff</a>, and <a href="/w/index.php?title=Michel_Temer_government&action=edit&redlink=1" class="new" title="Michel Temer government (page does not exist)">Michel Temer government</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/2013_protests_in_Brazil" title="2013 protests in Brazil">2013 protests in Brazil</a>, <a href="/wiki/2014_Brazilian_general_election" title="2014 Brazilian general election">2014 Brazilian general election</a>, and <a href="/wiki/2015%E2%80%932016_protests_in_Brazil" title="2015–2016 protests in Brazil">2015–2016 protests in Brazil</a></div> In the international context of major protests following the <a href="/wiki/2008_financial_crisis" class="mw-redirect" title="2008 financial crisis">2008 financial crisis</a>, such as the <a href="/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a> in the Arab world, <a href="/wiki/Occupy_Wall_Street" title="Occupy Wall Street">Occupy Wall Street</a> in the United States, and <a href="/wiki/2011%E2%80%932012_Spanish_protests" class="mw-redirect" title="2011–2012 Spanish protests">Los Indignados</a> in Spain,<a href="#cite_note-32">[32]</a> Brazil experienced major protests in 2013, the largest since the demonstrations for the impeachment of Fernando Collor in 1992.<a href="#cite_note-folha-imp-33">[33]</a> The protesters initially challenged increases in public transportation fares but later questioned the hosting of FIFA mega-events (<a href="/wiki/2013_FIFA_Confederations_Cup" title="2013 FIFA Confederations Cup">Confederations Cup</a> and <a href="/wiki/2014_FIFA_World_Cup" title="2014 FIFA World Cup">World Cup</a>)<a href="#cite_note-34">[34]</a> and political corruption. In response, the federal government announced measures to try to address the protesters' demands<a href="#cite_note-UOL-DILMA/21-JUN-35">[35]</a> and the National Congress of Brazil passed a series of concessions, known as the "positive agenda."<a href="#cite_note-36">[36]</a> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Posse_Dilma_2015_cropped.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Posse_Dilma_2015_cropped.jpg/220px-Posse_Dilma_2015_cropped.jpg" decoding="async" width="220" height="141" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Posse_Dilma_2015_cropped.jpg/330px-Posse_Dilma_2015_cropped.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Posse_Dilma_2015_cropped.jpg/440px-Posse_Dilma_2015_cropped.jpg 2x" data-file-width="3811" data-file-height="2439" /></a><figcaption><a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">Dilma Rousseff</a> at her <a href="/wiki/Second_inauguration_of_Dilma_Rousseff" title="Second inauguration of Dilma Rousseff">inauguration as president</a> in 2015, alongside her vice president, <a href="/wiki/Michel_Temer" title="Michel Temer">Michel Temer</a></figcaption></figure> The following year, in 2014, the <a href="/wiki/Operation_Car_Wash" title="Operation Car Wash">Operation Car Wash</a> investigation began, revealing a vast corruption scheme involving the political class and parties. The re-election of <a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">Dilma Rousseff</a> a few months later exacerbated the political crisis. Running for a second term as a candidate for the <a href="/wiki/Workers%27_Party_(Brazil)" title="Workers' Party (Brazil)">Workers' Party</a>, Dilma won the <a href="/wiki/2014_Brazilian_general_election" title="2014 Brazilian general election">presidential election that year</a>, defeating the candidate from the <a href="/wiki/Brazilian_Social_Democracy_Party" title="Brazilian Social Democracy Party">Brazilian Social Democracy Party (PSDB)</a>, <a href="/wiki/A%C3%A9cio_Neves" title="Aécio Neves">Aécio Neves</a>, in the most fiercely contested presidential race in the country's history at that time.<a href="#cite_note-37">[37]</a> The election was also marked by turmoil and controversies, mainly due to Operation Car Wash.<a href="#cite_note-38">[38]</a> In this context of political crisis, the Congress began to vote on measures that could generate more expenses for the government. These were called "bills bombs" (pautas-bomba). If the president vetoed any of these bills, the President of the Chamber of Deputies, Eduardo Cunha, would entertain an impeachment request against her. These bills were used as instruments of blackmail. The proposed spending increases voted by Congress occurred at the same time the government intended to make cuts to achieve the fiscal target for the year. In a scenario of an economy in crisis, this hindered the rebalancing of public accounts by increasing state expenses and making the economic adjustments proposed by Dilma unviable.<a href="#cite_note-FOOTNOTEBernoulli2021135-39">[39]</a><a href="#cite_note-40">[40]</a> In December 2015, after the PT voted for the impeachment of Eduardo Cunha<a href="#cite_note-FOOTNOTEBernoulli2021135-39">[39]</a> (who was involved in corruption scandals), he accepted an impeachment request against Dilma for alleged <a href="/w/index.php?title=Crime_of_responsibility&action=edit&redlink=1" class="new" title="Crime of responsibility (page does not exist)">crime of responsibility</a>.<a href="#cite_note-41">[41]</a> On May 12, 2016, the <a href="/wiki/Federal_Senate_of_Brazil" class="mw-redirect" title="Federal Senate of Brazil">Federal Senate</a> removed her from the presidency for 180 days. Immediately, her vice-president <a href="/wiki/Michel_Temer" title="Michel Temer">Michel Temer</a> assumed the position <a href="/wiki/Acting_president" title="Acting president">temporarily</a>.<a href="#cite_note-42">[42]</a> Even though he was acting president but behaving as if he were the definitive president,<a href="#cite_note-43">[43]</a> Temer established his government plan and made "stopping the free fall in economic activity" a priority in his first speech as president.<a href="#cite_note-44">[44]</a> However, early in his government, Temer became involved in controversies due to his ministers who were being investigated in the scope of Operation Car Wash, as well as himself.<a href="#cite_note-45">[45]</a> The scandals affected the progress of the government's proposed reforms aimed at economic recovery.<a href="#cite_note-46">[46]</a> Not only did they affect the progress itself, but they also required Temer to allocate many resources to maintain his allied base cohesive. The total amount of funds released in 2017 for parliamentary amendments (a legal mechanism used for political negotiations) increased from 959 million to 1.5 billion reais just in June, the month following the JBS scandal.<a href="#cite_note-FOOTNOTECarvalho2018138-47">[47]</a> All the corruption scandals involving the Temer government, combined with the unpopular reform proposals, caused Temer's approval rating, according to CNI/<a href="/wiki/Brazilian_Institute_of_Public_Opinion_and_Statistics" title="Brazilian Institute of Public Opinion and Statistics">Ibope</a> polls, to drop to 3 percent in September 2017, even lower than Dilma's.<a href="#cite_note-48">[48]</a> Therefore, Dilma's impeachment and the beginning of the Temer government were not able to halt the political crisis or the economic crisis. The persistence of the political crisis continued to hinder economic recovery because the scandals affect the markets, especially those subject to short-term speculative movements, such as the stock market and the foreign exchange market, which are the first to react.<a href="#cite_note-:1-49">[49]</a><a href="#cite_note-50">[50]</a> Although Temer survived, his image was damaged. Several <a href="/w/index.php?title=Protests_against_Michel_Temer%27s_government&action=edit&redlink=1" class="new" title="Protests against Michel Temer's government (page does not exist)">popular protests</a> questioned whether he could remain in office.<a href="#cite_note-51">[51]</a> <div class="mw-heading mw-heading3"><h3 id="Economic_Impacts_of_Operation_Car_Wash">Economic Impacts of Operation Car Wash</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=8" title="Edit section: Economic Impacts of Operation Car Wash">edit</a>]</div> Operation Car Wash mainly affected the construction and oil sectors.<a href="#cite_note-FOOTNOTECarvalho201898-24">[24]</a> A study by the <a href="/w/index.php?title=Inter-Union_Department_of_Statistics_and_Socioeconomic_Studies&action=edit&redlink=1" class="new" title="Inter-Union Department of Statistics and Socioeconomic Studies (page does not exist)">Dieese</a>, published in March 2021, indicated that about 4.4 million jobs were lost in the country from 2014 to 2017 as a result of Operation Car Wash. Of these, 1.1 million were in the construction sector.<a href="#cite_note-52">[52]</a> During the same period, the sector recorded a negative balance between hirings and dismissals of 991,734 formal positions.<a href="#cite_note-53">[53]</a> According to a study published in 2018 by the <a href="/w/index.php?title=Independent_Fiscal_Institution&action=edit&redlink=1" class="new" title="Independent Fiscal Institution (page does not exist)">Independent Fiscal Institution</a>, since the beginning of 2014, the construction industry experienced 14 quarters of negative results, with a negative impact of 0.9 percentage points per quarter. The study also pointed out that the sector was a limiting factor to the recovery trajectory of industrial GDP and economic activity in aggregate terms.<a href="#cite_note-54">[54]</a> Some consultancies estimated that the economic contraction caused by Operation Car Wash would be around 1% to 1.5% of the GDP per year.<a href="#cite_note-55">[55]</a> The direct and indirect effects of Operation Car Wash on the country's economy may have caused, according to a projection by the consulting firm Go Associados for 2015, a contraction of more than 140 billion reais in the country's economy.<a href="#cite_note-56">[56]</a> According to a study by consultancy Tendências, the recession could be three times smaller without the impacts of the operation on the economy.<a href="#cite_note-57">[57]</a> <div class="mw-heading mw-heading2"><h2 id="Consequences">Consequences</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=9" title="Edit section: Consequences">edit</a>]</div> <div class="mw-heading mw-heading3"><h3 id="Unemployment">Unemployment</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=10" title="Edit section: Unemployment">edit</a>]</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/64/Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png/355px-Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png" decoding="async" width="355" height="216" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/64/Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png/533px-Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png 1.5x, //upload.wikimedia.org/wikipedia/commons/6/64/Evolu%C3%A7%C3%A3o_do_desemprego_2012-2017.png 2x" data-file-width="685" data-file-height="416" /></a><figcaption>The unemployment rate from 2012 to 2017. Each vertical line corresponds to a month.<a href="#cite_note-desemprego-58">[58]</a></figcaption></figure> Before the recession, Brazil's <a href="/wiki/Unemployment" title="Unemployment">unemployment</a> rate hovered around 6.8% for most of 2014, but began increasing in February 2015, resulting in a 2015 average of 8.5%. The economy lost more than 1.5 million jobs throughout 2015, fueling public discontent against the political establishment and the political leadership of the <a href="/wiki/Workers%27_Party_(Brazil)" title="Workers' Party (Brazil)">Worker's Party</a> and President <a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">Dilma Rousseff</a>.<a href="#cite_note-59">[59]</a> The unemployment rate continued to rise throughout 2016 to finish the year at 12.0%, with 12.3 million people unemployed and an estimated 2.8 million private-sector jobs cut over the preceding two years.<a href="#cite_note-60">[60]</a> Young people were affected most by the worsening job market. While the overall unemployment rate was 12.7% in the first quarter of 2019, the rate in people from 14 to 17 years was 44.5% and 27.3% for people from 18 to 24 years. Experts expressed concern for the unintended economic and social repercussions for Brazil's younger population, as the economic crisis decreased social security contributions and depreciated <a href="/wiki/Human_capital" title="Human capital">human capital</a> (caused by the decrease in the technical capacity of future workers).<a href="#cite_note-61">[61]</a> <div class="mw-heading mw-heading3"><h3 id="Recession">Recession</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=11" title="Edit section: Recession">edit</a>]</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png/355px-Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png" decoding="async" width="355" height="216" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png/533px-Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/17/Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png/710px-Crescimento_do_PIB_do_Brasil_entre_2010_e_2016.png 2x" data-file-width="714" data-file-height="434" /></a><figcaption>Change in GDP from 2010 to 2016 in Brazil.<a href="#cite_note-oglobo-62">[62]</a> Growth slowed significantly in 2014 which was followed by two consecutive drops. (Note: The values for 2015 and 2016 were later revised to 3,5% and 3,3%, respectively.)</figcaption></figure> At the end of the second quarter of 2014, the country was in a technical <a href="/wiki/Recession" title="Recession">recession</a>. According to some Brazilian economists, a technical recession is negative economic growth for two consecutive quarters. It is different from an actual recession, in which the situation of the country depreciates significantly.<a href="#cite_note-63">[63]</a> Finance Minister, <a href="/wiki/Guido_Mantega" title="Guido Mantega">Guido Mantega</a>, lessened the economic result and, in comparison to Europe, declared that: <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">[In Brazil] we're talking about two trimesters [of negative GDP growth], and we know that the economy is in motion. Recession is when there are rising unemployment and decreasing income. Here we have the opposite.<div class="templatequotecite">— <cite>Guido Mantega, Finance Minister<a href="#cite_note-64">[64]</a></cite></div></blockquote> Regardless of Mantega's statements, specialists had already spotted signs that a strong recession was well underway, citing the technical recession and later, the small growth of 0.5% at the end of 2014. The expectations were confirmed in the next year when the economy shrunk by 3.5%. In 2016, there was another sharp decrease of 3.3%.<a href="#cite_note-65">[65]</a><a href="#cite_note-66">[66]</a><a href="#cite_note-67">[67]</a> In the first trimester of 2017, the GDP rose for the first time after eight consecutive trimesters of negative growth.<a href="#cite_note-jn-68">[68]</a> The recession caused a <a href="/wiki/Fiscal_crisis" class="mw-redirect" title="Fiscal crisis">fiscal crisis</a> and an increasing <a href="/wiki/Budget_deficit" class="mw-redirect" title="Budget deficit">budget deficit</a> which, according to Bloomberg, was "the largest-ever primary budget gap ... as a two-year <a href="/wiki/Economic_recession" class="mw-redirect" title="Economic recession">economic recession</a> sapped tax collection while expenses grew further."<a href="#cite_note-69">[69]</a> The government deficit reached 5.8 billion <a href="/wiki/Brazilian_real" title="Brazilian real">reais</a> (US$1.7 billion) in the first three months of 2016, the widest reported since December 2001. The two-year fiscal deterioration can be explained by the decrease in government revenue from taxes as a result of the recession, while government expenses have been growing constantly.<a href="#cite_note-70">[70]</a> <div class="mw-heading mw-heading3"><h3 id="Increase_in_economic_inequality">Increase in economic inequality</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=12" title="Edit section: Increase in economic inequality">edit</a>]</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png/355px-Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png" decoding="async" width="355" height="214" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png/533px-Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png 1.5x, //upload.wikimedia.org/wikipedia/commons/f/f9/Gini_da_Renda_do_Trabalho_nos_Domic%C3%ADlios_per_Capita.png 2x" data-file-width="624" data-file-height="376" /></a><figcaption>Evolution of the <a href="/wiki/Gini_coefficient" title="Gini coefficient">Gini coefficient</a> in Brazil from 2012 to 2019. Source: Ibre/FGV<a href="#cite_note-IBRE-71">[71]</a></figcaption></figure> A 2019 study by the <a href="/wiki/Instituto_Brasileiro_de_Economia" title="Instituto Brasileiro de Economia">Instituto Brasileiro de Economia</a> (IBRE), part of <a href="/wiki/Funda%C3%A7%C3%A3o_Get%C3%BAlio_Vargas" class="mw-redirect" title="Fundação Getúlio Vargas">Fundação Getúlio Vargas</a> (FGV), obtained by the magazine <a href="/wiki/Valor_Econ%C3%B4mico" title="Valor Econômico">Valor Econômico</a>, showed that the <a href="/wiki/Gini_coefficient" title="Gini coefficient">Gini coefficient</a>, which measures the <a href="/wiki/Economic_inequality" title="Economic inequality">economic inequality</a> in society from 0 to 1, had increased year after year since 2015 and reached its peak in March 2019. In seven years, the accumulated wealth of the top 10% rose by 8.5%, while that of the 40% poorest dropped 14%. The research showed that people with lower incomes suffered the effects of the crisis more intensely and recovered from the crisis slower.<a href="#cite_note-72">[72]</a><a href="#cite_note-Valor-73">[73]</a><a href="#cite_note-IBRE-71">[71]</a> According to an Ibre researcher, Daniel Duque, the recovery of the job market benefited the most qualified and experienced, reinforcing inequality. Many underqualified people gave up trying to get a job, and the loss of hope was at a "[...] record high, and it helps to explain why, even after the decrease in unemployment, inequality kept rising."<a href="#cite_note-Valor-73">[73]</a> <div class="mw-heading mw-heading3"><h3 id="Emigration">Emigration</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=13" title="Edit section: Emigration">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Brazilian_diaspora" title="Brazilian diaspora">Brazilian diaspora</a></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/23/Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg/355px-Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg" decoding="async" width="355" height="216" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/23/Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg/533px-Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/23/Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg/710px-Quantidade_de_declara%C3%A7%C3%B5es_de_sa%C3%ADda_definitiva_do_Brasil.jpg 2x" data-file-width="748" data-file-height="455" /></a><figcaption>Number of declarations of definite emigration from the country. Source: <a href="/wiki/Receita_Federal_do_Brasil" title="Receita Federal do Brasil">Receita Federal</a>.<a href="#cite_note-:4-74">[74]</a></figcaption></figure> The number of declarations of definitive departure from the country began to grow in the first year of crisis and has increased steadily ever since, according to <a href="/wiki/Receita_Federal_do_Brasil" title="Receita Federal do Brasil">Receita Federal</a>. Among the countries that received the most Brazilian citizens were the <a href="/wiki/United_States" title="United States">United States</a>, <a href="/wiki/Japan" title="Japan">Japan</a> and <a href="/wiki/Canada" title="Canada">Canada</a>, which, due to low unemployment and aging populations among other reasons, needed a boost to decrease the age of the workforce.<a href="#cite_note-:4-74">[74]</a> Another destination was <a href="/wiki/Portugal" title="Portugal">Portugal</a>, which conceded Portuguese citizenship to 8,000 Brazilians only in 2016, according to <a href="/wiki/Eurostat" title="Eurostat">Eurostat</a>.<a href="#cite_note-75">[75]</a> Besides the crisis, another reason for the emigration were the elevated levels of <a href="/wiki/Crime_in_Brazil" title="Crime in Brazil">criminality</a>.<a href="#cite_note-76">[76]</a> According to a JBJ Partners employee (a company specialized in expatriation to the <a href="/wiki/United_States" title="United States">United States</a>), many who fled Brazil were qualified workers: <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">We're talking about qualified people. The profile of the immigrant is no longer that of the poor individual looking for better opportunities. They are high executives, who are abandoning their careers to open a business abroad, people with Ph.D., which is sad because the country is losing resources.<div class="templatequotecite">— <cite>Jorge Botrel, a JBJ partner.<a href="#cite_note-77">[77]</a></cite></div></blockquote> An <a href="/wiki/OECD" title="OECD">OECD</a> report shows an even higher number [<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] . In 2016 80,000 Brazilians emigrated legally to one of the member states of the OECD, whereas 99,000 did so in 2017. Similarly, data from Receita Federal shows that the number of people leaving Brazil increased in consecutive years since the beginning of the crisis.<a href="#cite_note-78">[78]</a> <div class="mw-heading mw-heading3"><h3 id="Credit_rating">Credit rating</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=14" title="Edit section: Credit rating">edit</a>]</div> This is a table of the credit ratings of the Brazilian economy according to Trading Economics.[<a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch">who?</a>][<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] <table class="wikitable"> <tbody><tr> <th>Agency</th> <th>Rating</th> <th>Outlook</th> <th>Date </th></tr> <tr> <td>Fitch</td> <td>BB</td> <td>negative</td> <td>May 5, 2016 </td></tr> <tr> <td>TE</td> <td>34</td> <td>negative</td> <td>Apr 16 2016 </td></tr> <tr> <td>Moody's</td> <td>Ba2</td> <td>negative</td> <td>Feb 24 2016 </td></tr> <tr> <td>S&P</td> <td>BB</td> <td>negative</td> <td>Feb 17 2016 </td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Anti-crisis_measures">Anti-crisis measures</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=15" title="Edit section: Anti-crisis measures">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Entrevistas_Diversas_(30847431200).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Entrevistas_Diversas_%2830847431200%29.jpg/220px-Entrevistas_Diversas_%2830847431200%29.jpg" decoding="async" width="220" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Entrevistas_Diversas_%2830847431200%29.jpg/330px-Entrevistas_Diversas_%2830847431200%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Entrevistas_Diversas_%2830847431200%29.jpg/440px-Entrevistas_Diversas_%2830847431200%29.jpg 2x" data-file-width="4256" data-file-height="2832" /></a><figcaption><a href="/wiki/Henrique_Meirelles" title="Henrique Meirelles">Henrique Meirelles</a>, the <a href="/wiki/Ministry_of_Finance_(Brazil)" title="Ministry of Finance (Brazil)">Minister of Finance</a> from May 2016 to April 2018</figcaption></figure> Since the impeachment of Dilma Rousseff and <a href="/wiki/Michel_Temer" title="Michel Temer">Michel Temer</a>'s subsequent rise to power, several measures, most of which are unpopular, were implemented or proposed to get the economy back on track.<a href="#cite_note-79">[79]</a> The most important of which were: <ul><li>The <a href="/w/index.php?title=95%C2%BA_Constitutional_amendment&action=edit&redlink=1" class="new" title="95º Constitutional amendment (page does not exist)">95º Constitutional amendment</a> [<a href="https://pt.wikipedia.org/wiki/Emenda_Constitucional_do_Teto_dos_Gastos_P%C3%BAblicos" class="extiw" title="pt:Emenda Constitucional do Teto dos Gastos Públicos">pt</a>] (a.k.a. "new fiscal regime"): Constitutional amendment which established a "ceiling" (upper limit) to government spending for the next 20 years;<a href="#cite_note-80">[80]</a></li> <li>The <a href="/wiki/Outsourcing_law_in_Brazil" title="Outsourcing law in Brazil">Outsourcing law</a>, which allows companies to hire outsourced employees to work on primary activities, and not just secondary activities (such as security or cleaning);<a href="#cite_note-81">[81]</a></li> <li>The <a href="/wiki/Brazil_labor_reform_(2017)" title="Brazil labor reform (2017)">2017 labor reform</a>, a significant change in the <a href="/wiki/Consolidation_of_Labor_Laws" title="Consolidation of Labor Laws">Consolidation of Labor Laws</a>; and<a href="#cite_note-82">[82]</a></li> <li>a pension reform, which the government failed to approve.<a href="#cite_note-83">[83]</a></li></ul> One year after the labor reform was approved, however, it was verified that the decrease in unemployment was minimal, while the contracts of intermittent, outsourced and temporary labor increased.<a href="#cite_note-84">[84]</a> <div class="mw-heading mw-heading2"><h2 id="Recovery">Recovery</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=16" title="Edit section: Recovery">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/42px-Ambox_current_red_Americas.svg.png" decoding="async" width="42" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/63px-Ambox_current_red_Americas.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/84px-Ambox_current_red_Americas.svg.png 2x" data-file-width="360" data-file-height="290" /></div></td><td class="mbox-text"><div class="mbox-text-span">This section needs to be updated. Please help update this article to reflect recent events or newly available information. (January 2023)</div></td></tr></tbody></table> In early 2017, there were already signals that the economy was beginning to recover, however, it was agreed that the process would be long and slow.<a href="#cite_note-85">[85]</a><a href="#cite_note-86">[86]</a> In June 2017, a 1% rise in GDP in the first quarter of the year was reported.<a href="#cite_note-jn-68">[68]</a> It was the first rise of the GDP after eight consecutive falls (two years).<a href="#cite_note-:0-87">[87]</a> Minister of Finance <a href="/wiki/Henrique_Meirelles" title="Henrique Meirelles">Henrique Meirelles</a> said that the country had left the "greatest recession of the century."<a href="#cite_note-88">[88]</a> However, economists say that the growth characterizes only the end of the "technical recession" and that it is still too early to claim that the crisis is over, given that unemployment remains high and there's still widespread uncertainty regarding the future of the economy, especially in the aftermath of the recent political scandals.<a href="#cite_note-89">[89]</a> <div class="mw-heading mw-heading2"><h2 id="Comparison_with_other_crises">Comparison with other crises</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=17" title="Edit section: Comparison with other crises">edit</a>]</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Countries_by_Real_GDP_Growth_Rate_(2016).svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/40/Countries_by_Real_GDP_Growth_Rate_%282016%29.svg/355px-Countries_by_Real_GDP_Growth_Rate_%282016%29.svg.png" decoding="async" width="355" height="182" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/40/Countries_by_Real_GDP_Growth_Rate_%282016%29.svg/533px-Countries_by_Real_GDP_Growth_Rate_%282016%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/40/Countries_by_Real_GDP_Growth_Rate_%282016%29.svg/710px-Countries_by_Real_GDP_Growth_Rate_%282016%29.svg.png 2x" data-file-width="2560" data-file-height="1314" /></a><figcaption>Real GDP growth in 2016. Source: CIA World Factbook<a href="#cite_note-90">[90]</a></figcaption></figure> In countries with similar size and wealth, there were a few, but less severe crises in the same period. In 2015, among <a href="/wiki/OECD" title="OECD">OECD</a> countries, only <a href="/wiki/Russia" title="Russia">Russia</a> went through a recession. Even after the economic sanctions imposed by other countries due to the <a href="/wiki/Russian_military_intervention_in_Ukraine_(2014%E2%80%93present)" class="mw-redirect" title="Russian military intervention in Ukraine (2014–present)">conflict in Ukraine</a>, Russia's GDP fell by only 4% in two years (2015 and 2016). Few other countries in this period were going through a recession, which reinforces the argument that the crisis in Brazil was mainly due to local causes.<a href="#cite_note-book-7">[7]</a> In comparison to other crises in Brazil, it was verified that the 2014 crisis was not the deepest recession of Brazilian history, as previously thought. After the GDP values for 2015 and 2016 were reviewed by the <a href="/wiki/Brazilian_Institute_of_Geography_and_Statistics" title="Brazilian Institute of Geography and Statistics">Brazilian Institute of Geography and Statistics</a> (IBGE), the economy shrank by 8.2% in the period, in contrast to the 8.5% in the 1981 recession. Despite the relative mildness, the crisis was prolonged, being followed by the slowest economic recovery in Brazilian history.<a href="#cite_note-book-7">[7]</a> According to Codace (committee part of <a href="/wiki/Funda%C3%A7%C3%A3o_Get%C3%BAlio_Vargas" class="mw-redirect" title="Fundação Getúlio Vargas">Fundação Getúlio Vargas</a>), the 1981 crisis lasted nine economic quarters, reached its peak in the first quarter of 1983 and, since then, took seven quarters for the GDP the reach its pre-crisis level. Later, the 1989-1992 crisis lasted 11 quarters and the recovery time was the same: seven quarters. This crisis, however, had a lower intensity, with an accumulated decrease in the GDP of 7.7%.<a href="#cite_note-book-7">[7]</a> In turn, Brazil's GDP after the 2014 crisis was expected to reach the pre-crisis level in 2022, according to an optimistic estimate, with 20 quarters of recovery in total. When taking into account both GDP and the employment rate, the recovery from this economic crisis would be measured as taking longer. In addition to the sluggish recovery, the new jobs will likely be of lower quality, including informal and autonomous labor.<a href="#cite_note-book-7">[7]</a> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=18" title="Edit section: See also">edit</a>]</div> <ul><li><a href="/wiki/List_of_economic_crises_in_Brazil" title="List of economic crises in Brazil">List of economic crises in Brazil</a></li> <li><a href="/wiki/Brazil_labor_reform_(2017)" title="Brazil labor reform (2017)">Brazil labor reform (2017)</a></li> <li><a href="/wiki/Economy_of_Brazil" title="Economy of Brazil">Economy of Brazil</a></li> <li><a href="/wiki/2018_in_Brazil" title="2018 in Brazil">2018 in Brazil</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=19" title="Edit section: References">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width reflist-columns-2"> <ol class="references"> <li id="cite_note-1"><a href="#cite_ref-1">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.aljazeera.com/news/2018/02/michel-temer-signs-security-decree-stem-rio-violence-180216183747559.html">"Michel Temer signs security decree to stem Rio violence"</a>. www.aljazeera.com. Retrieved 2018-02-16.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.aljazeera.com&rft.atitle=Michel+Temer+signs+security+decree+to+stem+Rio+violence&rft_id=http%3A%2F%2Fwww.aljazeera.com%2Fnews%2F2018%2F02%2Fmichel-temer-signs-security-decree-stem-rio-violence-180216183747559.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-2"><a href="#cite_ref-2">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBarua2016" class="citation web cs1">Barua, Akrur (29 April 2016). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160823114946/http://dupress.com/articles/global-economic-outlook-q2-2016-brazil/">"Brazil: Yearning for the good times"</a>. Global Economic Outlook, Q2 2016. Deloitte University Press. 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Retrieved 21 May 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Brazil%3A+Yearning+for+the+good+times&rft.series=Global+Economic+Outlook%2C+Q2+2016&rft.pub=Deloitte+University+Press&rft.date=2016-04-29&rft.aulast=Barua&rft.aufirst=Akrur&rft_id=http%3A%2F%2Fdupress.com%2Farticles%2Fglobal-economic-outlook-q2-2016-brazil%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-3"><a href="#cite_ref-3">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDarlan_Alvarenga2017" class="citation web cs1">Darlan Alvarenga (2017-06-01). <a rel="nofollow" class="external text" href="http://g1.globo.com/economia/noticia/pib-positivo-e-saida-tecnica-da-recessao-mas-recuperacao-e-incerta-entenda.ghtml">"PIB positivo é 'saída técnica' da recessão, mas recuperação é incerta; entenda"</a>. G1. 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R7. 30 October 2015. Retrieved 30 June 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=R7&rft.atitle=Causas+imediatas+da+crise+econ%C3%B4mica+brasileira+s%C3%A3o+externas%2C+diz+The+Economist&rft.date=2015-10-30&rft_id=https%3A%2F%2Fnoticias.r7.com%2Feconomia%2Fcausas-imediatas-da-crise-economica-brasileira-sao-externas-diz-the-economist-30102015&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-31"><a href="#cite_ref-31">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://oglobo.globo.com/economia/capa-da-economist-alerta-para-queda-do-brasil-preve-desastre-em-2016-18384376">"Capa da 'Economist' alerta para queda do Brasil e prevê desastre em 2016"</a>. O Globo. 30 December 2015. Retrieved 30 June 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=O+Globo&rft.atitle=Capa+da+%27Economist%27+alerta+para+queda+do+Brasil+e+prev%C3%AA+desastre+em+2016&rft.date=2015-12-30&rft_id=https%3A%2F%2Foglobo.globo.com%2Feconomia%2Fcapa-da-economist-alerta-para-queda-do-brasil-preve-desastre-em-2016-18384376&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-32"><a href="#cite_ref-32">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bbc.co.uk/portuguese/noticias/2013/06/130623_protestos_pressreview_bg.shtml">"Protestos globais crescem com perda de fé na política e no Estado"</a>. <a href="/wiki/BBC_Brasil" class="mw-redirect" title="BBC Brasil">BBC Brasil</a>. 23 June 2013. Retrieved 25 June 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Protestos+globais+crescem+com+perda+de+f%C3%A9+na+pol%C3%ADtica+e+no+Estado&rft.pub=BBC+Brasil&rft.date=2013-06-23&rft_id=https%3A%2F%2Fwww.bbc.co.uk%2Fportuguese%2Fnoticias%2F2013%2F06%2F130623_protestos_pressreview_bg.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-folha-imp-33"><a href="#cite_ref-folha-imp_33-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www1.folha.uol.com.br/cotidiano/2013/06/1296834-protesto-em-sao-paulo-e-o-maior-desde-manifestacao-contra-collor.shtml">"Protesto em São Paulo é o maior desde manifestação contra Collor"</a>. Folha de S.Paulo. 17 June 2013. 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R7.com. 17 June 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=R7.com&rft.atitle=Contra+a+Fifa+e+servi%C3%A7o+de+%C3%B4nibus%2C+12+mil+manifestantes+fecham+a+pra%C3%A7a+Sete+em+Belo+Horizonte&rft.date=2013-06-17&rft_id=https%3A%2F%2Fnoticias.r7.com%2Fminas-gerais%2Fcontra-a-fifa-e-servico-de-onibus-12-mil-manifestantes-fecham-a-praca-sete-em-belo-horizonte-17062013&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-UOL-DILMA/21-JUN-35"><a href="#cite_ref-UOL-DILMA/21-JUN_35-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://noticias.uol.com.br/cotidiano/ultimas-noticias/2013/06/21/em-pronunciamento-dilma-diz-que-chamara-prefeitos-e-governadores-para-discutir-mobilidade-urbana.htm">"Dilma diz que receberá líderes de protestos e propõe pacto para melhorar transporte, educação e saúde"</a>. UOL. 21 June 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Dilma+diz+que+receber%C3%A1+l%C3%ADderes+de+protestos+e+prop%C3%B5e+pacto+para+melhorar+transporte%2C+educa%C3%A7%C3%A3o+e+sa%C3%BAde&rft.pub=UOL&rft.date=2013-06-21&rft_id=https%3A%2F%2Fnoticias.uol.com.br%2Fcotidiano%2Fultimas-noticias%2F2013%2F06%2F21%2Fem-pronunciamento-dilma-diz-que-chamara-prefeitos-e-governadores-para-discutir-mobilidade-urbana.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-36"><a href="#cite_ref-36">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://g1.globo.com/politica/noticia/2013/08/como-ficou-agenda-positiva.html">"Como ficou a 'agenda positiva'"</a>. globo.com. 29 August 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=globo.com&rft.atitle=Como+ficou+a+%27agenda+positiva%27&rft.date=2013-08-29&rft_id=https%3A%2F%2Fg1.globo.com%2Fpolitica%2Fnoticia%2F2013%2F08%2Fcomo-ficou-agenda-positiva.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-37"><a href="#cite_ref-37">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www1.folha.uol.com.br/poder/2014/10/1537894-dilma-e-reeleita-presidente-do-brasil.shtml">"Na disputa mais acirrada da história, Dilma é reeleita presidente do Brasil"</a>. Folha de S.Paulo. 26 October 2014. Retrieved 17 June 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Na+disputa+mais+acirrada+da+hist%C3%B3ria%2C+Dilma+%C3%A9+reeleita+presidente+do+Brasil&rft.pub=Folha+de+S.Paulo&rft.date=2014-10-26&rft_id=https%3A%2F%2Fwww1.folha.uol.com.br%2Fpoder%2F2014%2F10%2F1537894-dilma-e-reeleita-presidente-do-brasil.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-38"><a href="#cite_ref-38">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.dci.com.br/politica/ny-times-brasileiros-lamentam-campanha-eleitoral-feia-id423083.html">"NY Times: brasileiros lamentam campanha eleitoral feia"</a>. The New York Times. 26 October 2014. Retrieved 17 June 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+New+York+Times&rft.atitle=NY+Times%3A+brasileiros+lamentam+campanha+eleitoral+feia&rft.date=2014-10-26&rft_id=https%3A%2F%2Fwww.dci.com.br%2Fpolitica%2Fny-times-brasileiros-lamentam-campanha-eleitoral-feia-id423083.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988">[<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">dead link</a>‍] </li> <li id="cite_note-FOOTNOTEBernoulli2021135-39">^ <a href="#cite_ref-FOOTNOTEBernoulli2021135_39-0">a</a> <a href="#cite_ref-FOOTNOTEBernoulli2021135_39-1">b</a> <a href="#CITEREFBernoulli2021">Bernoulli 2021</a>, p. 135. </li> <li id="cite_note-40"><a href="#cite_ref-40">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://m.folha.uol.com.br/mercado/2015/08/1664711-saiba-o-que-sao-as-pautas-bomba-nas-maos-do-congresso-contra-o-governo.shtml">"Saiba o que são as 'pautas-bomba' nas mãos do Congresso contra o governo - 05/08/2015 - Mercado - Folha de S.Paulo"</a>. m.folha.uol.com.br. Retrieved 2021-10-12.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=m.folha.uol.com.br&rft.atitle=Saiba+o+que+s%C3%A3o+as+%27pautas-bomba%27+nas+m%C3%A3os+do+Congresso+contra+o+governo+-+05%2F08%2F2015+-+Mercado+-+Folha+de+S.Paulo&rft_id=https%3A%2F%2Fm.folha.uol.com.br%2Fmercado%2F2015%2F08%2F1664711-saiba-o-que-sao-as-pautas-bomba-nas-maos-do-congresso-contra-o-governo.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-41"><a href="#cite_ref-41">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGadelhaCardosoSorgCarvalho2015" class="citation web cs1">Gadelha; Cardoso; Sorg; Carvalho (December 2, 2015). <a rel="nofollow" class="external text" href="https://politica.estadao.com.br/noticias/geral,eduardo-cunha-aceita-pedido-de-impeachment-contra-dilma-rousseff,10000003662">"Eduardo Cunha accepts impeachment request against Dilma Rousseff"</a>. Estadão. Retrieved June 17, 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Estad%C3%A3o&rft.atitle=Eduardo+Cunha+accepts+impeachment+request+against+Dilma+Rousseff&rft.date=2015-12-02&rft.au=Gadelha&rft.au=Cardoso&rft.au=Sorg&rft.au=Carvalho&rft_id=https%3A%2F%2Fpolitica.estadao.com.br%2Fnoticias%2Fgeral%2Ceduardo-cunha-aceita-pedido-de-impeachment-contra-dilma-rousseff%2C10000003662&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-42"><a href="#cite_ref-42">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMariana_Jungmann2016" class="citation web cs1">Mariana Jungmann (May 12, 2016). <a rel="nofollow" class="external text" href="https://agenciabrasil.ebc.com.br/politica/noticia/2016-05/dilma-sera-afastada-do-cargo-por-ate-180-dias-temer-assume-presidencia">"Dilma will be removed from office for up to 180 days; Temer assumes presidency"</a>. Agência Brasil. Retrieved June 17, 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Ag%C3%AAncia+Brasil&rft.atitle=Dilma+will+be+removed+from+office+for+up+to+180+days%3B+Temer+assumes+presidency&rft.date=2016-05-12&rft.au=Mariana+Jungmann&rft_id=https%3A%2F%2Fagenciabrasil.ebc.com.br%2Fpolitica%2Fnoticia%2F2016-05%2Fdilma-sera-afastada-do-cargo-por-ate-180-dias-temer-assume-presidencia&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-43"><a href="#cite_ref-43">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.em.com.br/app/noticia/politica/2016/06/21/interna_politica,775311/em-entrevista-temer-diz-que-se-comporta-como-presidente-definitivo.shtml">"Temer: "I don't behave as if I were interim, I behave as if I were definitive""</a>. Estado de Minas. June 21, 2016. Retrieved May 21, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Estado+de+Minas&rft.atitle=Temer%3A+%22I+don%27t+behave+as+if+I+were+interim%2C+I+behave+as+if+I+were+definitive%22&rft.date=2016-06-21&rft_id=https%3A%2F%2Fwww.em.com.br%2Fapp%2Fnoticia%2Fpolitica%2F2016%2F06%2F21%2Finterna_politica%2C775311%2Fem-entrevista-temer-diz-que-se-comporta-como-presidente-definitivo.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-44"><a href="#cite_ref-44">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://g1.globo.com/politica/processo-de-impeachment-de-dilma/noticia/2016/05/veja-integra-do-primeiro-discurso-de-temer-como-presidente-em-exercicio.html">"Read the full transcript of Temer's first speech as acting president"</a>. G1. 13 May 2016. Retrieved May 7, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=G1&rft.atitle=Read+the+full+transcript+of+Temer%27s+first+speech+as+acting+president&rft.date=2016-05-13&rft_id=https%3A%2F%2Fg1.globo.com%2Fpolitica%2Fprocesso-de-impeachment-de-dilma%2Fnoticia%2F2016%2F05%2Fveja-integra-do-primeiro-discurso-de-temer-como-presidente-em-exercicio.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">Brazil, my friends, is currently going through its worst economic crisis. There are 11 million unemployed, double-digit inflation, a deficit of nearly R$100 billion, recession, and also a serious chaotic situation in public health. Our biggest challenge is to stop the free fall in economic activity, which has led to increased unemployment and the loss of well-being of the population.</blockquote> </li> <li id="cite_note-45"><a href="#cite_ref-45">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://zh.clicrbs.com.br/rs/noticias/politica/noticia/2016/06/lava-jato-leia-a-integra-da-delacao-premiada-de-sergio-machado-que-cita-michel-temer-6003084.html">"Lava-Jato: read the full text of Sérgio Machado's plea bargain that mentions Michel Temer"</a>. ClicRBS. June 15, 2016. 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Agência Brasil. Brasília. 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Agência Brasil. São Paulo. 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G1. Retrieved 26 May 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=G1&rft.atitle=Governo+desiste+da+vota%C3%A7%C3%A3o+da+Previd%C3%AAncia+e+anuncia+nova+pauta+priorit%C3%A1ria+no+Congresso&rft.date=2018-02-19&rft.au=Guilherme+Mazui&rft.au=Roniara+Castilhos&rft_id=https%3A%2F%2Fg1.globo.com%2Fpolitica%2Fnoticia%2Fgoverno-desiste-da-votacao-da-previdencia-e-anuncia-nova-pauta-prioritaria-no-congresso.ghtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-84"><a href="#cite_ref-84">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFabiana_Futema2018" class="citation web cs1">Fabiana Futema (10 November 2018). <a rel="nofollow" class="external text" href="https://veja.abril.com.br/economia/um-ano-depois-reforma-trabalhista-nao-gera-empregos-esperados/">"Um ano depois, reforma trabalhista não gera empregos esperados"</a>. VEJA.com. Retrieved 2019-05-26.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=VEJA.com&rft.atitle=Um+ano+depois%2C+reforma+trabalhista+n%C3%A3o+gera+empregos+esperados&rft.date=2018-11-10&rft.au=Fabiana+Futema&rft_id=https%3A%2F%2Fveja.abril.com.br%2Feconomia%2Fum-ano-depois-reforma-trabalhista-nao-gera-empregos-esperados%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-85"><a href="#cite_ref-85">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://economia.estadao.com.br/noticias/geral,recuperacao-da-economia-brasileira-sera-longa-e-lenta-aponta-ft,70001658076">"Recuperação da economia brasileira será longa e lenta, aponta 'FT'"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Recupera%C3%A7%C3%A3o+da+economia+brasileira+ser%C3%A1+longa+e+lenta%2C+aponta+%27FT%27&rft_id=http%3A%2F%2Feconomia.estadao.com.br%2Fnoticias%2Fgeral%2Crecuperacao-da-economia-brasileira-sera-longa-e-lenta-aponta-ft%2C70001658076&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-86"><a href="#cite_ref-86">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www1.folha.uol.com.br/mercado/2017/04/1876544-recuperacao-da-economia-brasileira-ainda-e-lenta-diz-presidente-do-itau.shtml">"Recuperação da economia brasileira ainda é lenta, diz presidente do Itaú"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Recupera%C3%A7%C3%A3o+da+economia+brasileira+ainda+%C3%A9+lenta%2C+diz+presidente+do+Ita%C3%BA&rft_id=http%3A%2F%2Fwww1.folha.uol.com.br%2Fmercado%2F2017%2F04%2F1876544-recuperacao-da-economia-brasileira-ainda-e-lenta-diz-presidente-do-itau.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-:0-87"><a href="#cite_ref-:0_87-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://g1.globo.com/economia/noticia/pib-do-brasil-cresce-10-no-1-trimestre-de-2017.ghtml">"PIB do Brasil cresce 1% no 1º trimestre de 2017, após 8 quedas seguidas"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=PIB+do+Brasil+cresce+1%25+no+1%C2%BA+trimestre+de+2017%2C+ap%C3%B3s+8+quedas+seguidas&rft_id=http%3A%2F%2Fg1.globo.com%2Feconomia%2Fnoticia%2Fpib-do-brasil-cresce-10-no-1-trimestre-de-2017.ghtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-88"><a href="#cite_ref-88">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation cs2"><a rel="nofollow" class="external text" href="http://economia.estadao.com.br/noticias/geral,pib-sobe-1-0-no-1-trimestre-apos-oito-quedas-consecutivas,70001821658">PIB sobe 1% no 1º trimestre, após oito quedas consecutivas</a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=PIB+sobe+1%25+no+1%C2%BA+trimestre%2C+ap%C3%B3s+oito+quedas+consecutivas&rft_id=http%3A%2F%2Feconomia.estadao.com.br%2Fnoticias%2Fgeral%2Cpib-sobe-1-0-no-1-trimestre-apos-oito-quedas-consecutivas%2C70001821658&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-89"><a href="#cite_ref-89">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://g1.globo.com/economia/noticia/pib-positivo-e-saida-tecnica-da-recessao-mas-recuperacao-e-incerta-entenda.ghtml">"PIB positivo é 'saída técnica' da recessão, mas recuperação é incerta; entenda"</a>. June 2017. Retrieved 5 June 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=PIB+positivo+%C3%A9+%27sa%C3%ADda+t%C3%A9cnica%27+da+recess%C3%A3o%2C+mas+recupera%C3%A7%C3%A3o+%C3%A9+incerta%3B+entenda&rft.date=2017-06&rft_id=http%3A%2F%2Fg1.globo.com%2Feconomia%2Fnoticia%2Fpib-positivo-e-saida-tecnica-da-recessao-mas-recuperacao-e-incerta-entenda.ghtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> <li id="cite_note-90"><a href="#cite_ref-90">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20170701201952/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html">"The World Factbook — Central Intelligence Agency"</a>. Central Intelligence Agency (CIA). Archived from <a rel="nofollow" class="external text" href="https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html">the original</a> on 2017-07-01. Retrieved 2020-02-29.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Central+Intelligence+Agency+%28CIA%29&rft.atitle=The+World+Factbook+%E2%80%94+Central+Intelligence+Agency&rft_id=https%3A%2F%2Fwww.cia.gov%2Flibrary%2Fpublications%2Fthe-world-factbook%2Frankorder%2F2003rank.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"> </li> </ol></div> <div class="mw-heading mw-heading3"><h3 id="Works_cited">Works cited</h3>[<a href="/w/index.php?title=2014_Brazilian_economic_crisis&action=edit&section=20" title="Edit section: Works cited">edit</a>]</div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBernoulli2021" class="citation book cs1">Geraldo Magela; Edriano Abreu; Isabel Cristina Leite; Viviane Silva Gonzaga (2021). "Capítulo 8: Nova República". Bernoulli 2a Série Ciências Humanas e Linguagem – Volume 4. Belo Horizonte: Editora DRP Ltda.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Cap%C3%ADtulo+8%3A+Nova+Rep%C3%BAblica&rft.btitle=Bernoulli+2a+S%C3%A9rie+Ci%C3%AAncias+Humanas+e+Linguagem+%E2%80%93+Volume+4&rft.place=Belo+Horizonte&rft.pub=Editora+DRP+Ltda&rft.date=2021&rft.au=Geraldo+Magela&rft.au=Edriano+Abreu&rft.au=Isabel+Cristina+Leite&rft.au=Viviane+Silva+Gonzaga&rfr_id=info%3Asid%2Fen.wikipedia.org%3A2014+Brazilian+economic+crisis" class="Z3988"></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl 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href="/wiki/Template_talk:Government_of_Michel_Temer" title="Template talk:Government of Michel Temer"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Government_of_Michel_Temer" title="Special:EditPage/Template:Government of Michel Temer"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="23x15px&#124;border_&#124;alt=Brazil&#124;link=Brazil_Government_of_Michel_Temer" style="font-size:114%;margin:0 4em"><a href="/wiki/Brazil" title="Brazil"><img alt="Brazil" src="//upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/22px-Flag_of_Brazil.svg.png" decoding="async" width="22" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/33px-Flag_of_Brazil.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/43px-Flag_of_Brazil.svg.png 2x" data-file-width="1000" data-file-height="700" /></a> <a href="/wiki/Michel_Temer#President_of_Brazil" title="Michel Temer">Government of Michel Temer</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="3"><div><a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">← Government of Dilma Rousseff</a> (2011 – 2016)</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Context</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">2014 Brazilian economic crisis</a></li> <li><a href="/wiki/2014_Brazilian_general_election" title="2014 Brazilian general election">2014 Brazilian general election</a></li> <li><a href="/wiki/Impeachment_of_Dilma_Rousseff" title="Impeachment of Dilma Rousseff">Impeachment of Dilma Rousseff</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="4" style="width:1px;padding:0 0 0 2px"><div><a href="/wiki/File:Governo-federal-logo-novo-temer-grande.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c3/Governo-federal-logo-novo-temer-grande.png/200px-Governo-federal-logo-novo-temer-grande.png" decoding="async" width="200" height="80" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c3/Governo-federal-logo-novo-temer-grande.png/300px-Governo-federal-logo-novo-temer-grande.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c3/Governo-federal-logo-novo-temer-grande.png/400px-Governo-federal-logo-novo-temer-grande.png 2x" data-file-width="5500" data-file-height="2190" /></a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Reforms</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Brazil_labor_reform_(2017)" title="Brazil labor reform (2017)">Brazil labor reform (2017)</a></li> <li><a href="/wiki/Outsourcing_law_in_Brazil" title="Outsourcing law in Brazil">Outsourcing law in Brazil</a></li> <li><a href="/wiki/Constitutional_Amendment_of_the_Public_Expenditure_Cap" title="Constitutional Amendment of the Public Expenditure Cap">Fiscal reform</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Protests</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2016%E2%80%932017_Brazilian_protests" title="2016–2017 Brazilian protests">2016–2017 Brazilian protests</a></li> <li><a href="/wiki/2016_student_protests_in_Brazil" title="2016 student protests in Brazil">2016 student protests in Brazil</a></li> <li><a href="/wiki/2017_Brazilian_general_strike" title="2017 Brazilian general strike">2017 Brazilian general strike</a></li> <li><a href="/wiki/2018_Brazil_truck_drivers%27_strike" title="2018 Brazil truck drivers' strike">2018 Brazil truck drivers' strike</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Crises</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Operation_Car_Wash" title="Operation Car Wash">Operation Car Wash</a></li> <li><a href="/wiki/Operation_Weak_Meat" title="Operation Weak Meat">Operation Weak Meat</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="3"><div><a href="/wiki/Jair_Bolsonaro" title="Jair Bolsonaro"> Government of Jair Bolsonaro→</a> (2019 – 2022)</div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Financial_crises" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Financial_crises" title="Template:Financial crises"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Financial_crises" title="Template talk:Financial crises"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Financial_crises" title="Special:EditPage/Template:Financial crises"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_crises" style="font-size:114%;margin:0 4em"><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crises</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Bank_run" title="Bank run">Bank run</a></li> <li><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></li> <li><a href="/wiki/Credit_crunch" title="Credit crunch">Credit crunch</a></li> <li><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></li> <li><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></li> <li><a href="/wiki/Debt_crisis" title="Debt crisis">Debt crisis</a></li> <li><a href="/wiki/Energy_crisis" title="Energy crisis">Energy crisis</a></li> <li><a href="/wiki/Financial_contagion" title="Financial contagion">Financial contagion</a> <ul><li><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></li></ul></li> <li><a href="/wiki/Flash_crash" title="Flash crash">Flash crash</a></li> <li><a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></li> <li><a href="/wiki/Liquidity_crisis" title="Liquidity crisis">Liquidity crisis</a> <ul><li><a href="/wiki/Accounting_liquidity" title="Accounting liquidity">Accounting</a></li> <li><a href="/wiki/Liquid_capital" title="Liquid capital">Capital</a></li> <li><a href="/wiki/Funding_liquidity" title="Funding liquidity">Funding</a></li> <li><a href="/wiki/Market_liquidity" title="Market liquidity">Market</a></li></ul></li> <li><a href="/wiki/Minsky_moment" title="Minsky moment">Minsky moment</a></li> <li><a href="/wiki/Social_crisis" title="Social crisis">Social crisis</a></li> <li><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Pre-<a href="/wiki/Commercial_revolution" title="Commercial revolution">1000</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Financial_crisis_of_33" title="Financial crisis of 33">Financial crisis of 33 CE</a></li> <li><a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> (235–284 CE)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a> (1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Bullion_Famine" title="Great Bullion Famine">Great Bullion Famine</a> (c. 1400–c. 1500)</li> <li><a href="/wiki/The_Great_Debasement" title="The Great Debasement">The Great Debasement</a> (1544–1551)</li> <li><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic stock market crashes</a> (c. 1600–1760)</li> <li><a href="/wiki/Kipper_und_Wipper" title="Kipper und Wipper">Kipper und Wipper</a> (1621–1623)</li> <li><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania crash</a> (1637)</li> <li><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble crash</a> (1720)</li> <li><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble crash</a> (1720)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a> (1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amsterdam_banking_crisis_of_1763" title="Amsterdam banking crisis of 1763">Amsterdam banking crisis of 1763</a></li> <li><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal bubble crash</a> (1769–1784)</li> <li><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">British credit crisis of 1772–1773</a></li> <li><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic financial collapse</a> (c. 1780–1795)</li> <li><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a></li> <li><a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a></li> <li><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a></li> <li><a href="/wiki/Danish_state_bankruptcy_of_1813" title="Danish state bankruptcy of 1813">Danish state bankruptcy of 1813</a></li> <li><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Post-Napoleonic Irish grain price and land use shocks</a> (1815–1816)</li> <li><a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a></li> <li><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a></li> <li><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/European_potato_failure" title="European potato failure">European potato failure</a> (1845–1856) <ul><li><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Irish Famine</a></li> <li><a href="/wiki/Highland_Potato_Famine" title="Highland Potato Famine">Highland Potato Famine</a></li></ul></li> <li><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a></li> <li><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a></li> <li><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a></li> <li><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a> (1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></li> <li><a href="/wiki/Paris_Bourse_crash_of_1882" title="Paris Bourse crash of 1882">Paris Bourse crash of 1882</a></li> <li><a href="/wiki/Panic_of_1884" title="Panic of 1884">Panic of 1884</a></li> <li><a href="/wiki/Arendal_crash" title="Arendal crash">Arendal crash</a> (1886)</li> <li><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890)</li> <li><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1890–1893)</li> <li><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></li> <li><a href="/wiki/Australian_banking_crisis_of_1893" title="Australian banking crisis of 1893">Australian banking crisis of 1893</a></li> <li><a href="/wiki/Black_Monday_(1894)" title="Black Monday (1894)">Black Monday</a> (1894)</li> <li><a href="/wiki/Panic_of_1896" title="Panic of 1896">Panic of 1896</a></li> <li><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a></li> <li><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></li> <li><a href="/wiki/Shanghai_rubber_stock_market_crisis" title="Shanghai rubber stock market crisis">Shanghai rubber stock market crisis</a> (1910)</li> <li><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a></li> <li><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a> (1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_early_Soviet_Russia" title="Hyperinflation in early Soviet Russia">Early Soviet hyperinflation</a> (1917–1924)</li> <li><a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Weimar Republic hyperinflation</a> (1921–1923)</li> <li><a href="/wiki/Sh%C5%8Dwa_financial_crisis" title="Shōwa financial crisis">Shōwa financial crisis</a> (1927)</li> <li><a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">Wall Street Crash of 1929</a></li> <li><a href="/wiki/Panic_of_1930" title="Panic of 1930">Panic of 1930</a></li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_War_II" title="World War II">Wartime period</a> (1939–1945)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_Greece" title="Hyperinflation in Greece">Greek hyperinflation</a> (1941–1946)</li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a> (1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hungarian_peng%C5%91#Hyperinflation" title="Hungarian pengő">Hungarian pengő hyperinflation</a> (1945–1946)</li> <li><a href="/wiki/Kennedy_Slide_of_1962" title="Kennedy Slide of 1962">Kennedy Slide of 1962</a></li> <li><a href="/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1" class="new" title="1963–1965 Indonesian hyperinflation (page does not exist)">1963–1965 Indonesian hyperinflation</a></li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a> (1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a> (1973–1980)</li> <li><a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></li> <li><a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a></li> <li><a href="/wiki/Secondary_banking_crisis_of_1973%E2%80%931975" title="Secondary banking crisis of 1973–1975">Secondary banking crisis of 1973–1975</a></li> <li><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a> (1973–1982)</li> <li><a href="/wiki/Latin_American_debt_crisis" title="Latin American debt crisis">Latin American debt crisis</a> (1975–1982)</li> <li><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 British currency crisis</a></li> <li><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></li> <li><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1980–1982)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/ <a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a> (1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1982–1994)</li> <li><a href="/wiki/Souk_Al-Manakh_stock_market_crash" title="Souk Al-Manakh stock market crash">Souk Al-Manakh stock market crash</a> (1982)</li> <li><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></li> <li><a href="/wiki/1983_Israel_bank_stock_crisis" title="1983 Israel bank stock crisis">1983 Israel bank stock crisis</a></li> <li><a href="/wiki/Black_Saturday_(1983)" title="Black Saturday (1983)">Black Saturday (1983)</a></li> <li><a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">Savings and loan crisis</a> (1986–1995)</li> <li><a href="/wiki/Cameroonian_economic_crisis" title="Cameroonian economic crisis">Cameroonian economic crisis</a> (1987–2000s)</li> <li><a href="/wiki/Black_Monday_(1987)" title="Black Monday (1987)">Black Monday (1987)</a></li> <li><a href="/wiki/1988%E2%80%931992_Norwegian_banking_crisis" title="1988–1992 Norwegian banking crisis">1988–1992 Norwegian banking crisis</a></li> <li><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble crash</a> (1990–1992)</li> <li><a href="/wiki/Rhode_Island_banking_crisis" title="Rhode Island banking crisis">Rhode Island banking crisis</a> (1990–1992)</li> <li><a href="/wiki/1991_Indian_economic_crisis" title="1991 Indian economic crisis">1991 Indian economic crisis</a></li> <li><a href="/wiki/Sweden_financial_crisis_1990%E2%80%931994" class="mw-redirect" title="Sweden financial crisis 1990–1994">1990s Swedish financial crisis</a></li> <li><a href="/wiki/1990s_Finnish_banking_crisis" title="1990s Finnish banking crisis">1990s Finnish banking crisis</a></li> <li><a href="/wiki/Armenian_energy_crisis_of_1990s" class="mw-redirect" title="Armenian energy crisis of 1990s">1990s Armenian energy crisis</a></li> <li><a href="/wiki/Special_Period" title="Special Period">Cuban Special Period</a> (1991–2000)</li> <li><a href="/wiki/Black_Wednesday" title="Black Wednesday">Black Wednesday (1992 Sterling crisis)</a></li> <li><a href="/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia" title="Hyperinflation in the Federal Republic of Yugoslavia">Yugoslav hyperinflation</a> (1992–1994)</li> <li><a href="/wiki/1994_bond_market_crisis" title="1994 bond market crisis">1994 bond market crisis</a></li> <li><a href="/wiki/Venezuelan_banking_crisis_of_1994" title="Venezuelan banking crisis of 1994">Venezuelan banking crisis of 1994</a></li> <li><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a> (1994–1996)</li> <li><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></li> <li><a href="/wiki/October_27,_1997,_mini-crash" title="October 27, 1997, mini-crash">October 1997 mini-crash</a></li> <li><a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></li> <li><a href="/wiki/1998%E2%80%931999_Ecuador_economic_crisis" title="1998–1999 Ecuador economic crisis">1998–1999 Ecuador economic crisis</a></li> <li><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></li> <li><a href="/wiki/Samba_effect" title="Samba effect">Samba effect</a> (1999)</li> <li><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble crash</a> (2000–2004)</li> <li><a href="/wiki/Economic_effects_of_the_September_11_attacks" title="Economic effects of the September 11 attacks">9/11 stock market crash</a> (2001)</li> <li><a href="/wiki/2001_Turkish_economic_crisis" title="2001 Turkish economic crisis">2001 Turkish economic crisis</a></li> <li><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></li> <li><a href="/wiki/Stock_market_downturn_of_2002" title="Stock market downturn of 2002">Stock market downturn of 2002</a></li> <li><a href="/wiki/2002_Uruguay_banking_crisis" title="2002 Uruguay banking crisis">2002 Uruguay banking crisis</a></li> <li><a href="/wiki/2003_Myanmar_banking_crisis" title="2003 Myanmar banking crisis">2003 Myanmar banking crisis</a></li> <li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> (2003–2008)</li> <li><a href="/wiki/2004_Argentine_energy_crisis" title="2004 Argentine energy crisis">2004 Argentine energy crisis</a></li> <li><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 Chinese stock bubble crash</a></li> <li><a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Zimbabwean hyperinflation</a> (2007–present)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> (2007–2009)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a> <ul><li><a href="/wiki/Global_financial_crisis_in_September_2008" title="Global financial crisis in September 2008">September 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_October_2008" title="Global financial crisis in October 2008">October 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_November_2008" title="Global financial crisis in November 2008">November 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_December_2008" title="Global financial crisis in December 2008">December 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_2009" title="Global financial crisis in 2009">2009</a></li> <li><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></li> <li><a href="/wiki/2000s_United_States_housing_market_correction" title="2000s United States housing market correction">2000s U.S. housing market correction</a></li> <li><a href="/wiki/United_States_bear_market_of_2007%E2%80%932009" title="United States bear market of 2007–2009">U.S. bear market of 2007–2009</a></li> <li><a href="/wiki/2008_Latvian_financial_crisis" title="2008 Latvian financial crisis">2008 Latvian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932009_Belgian_financial_crisis" title="2008–2009 Belgian financial crisis">2008–2009 Belgian financial crisis</a></li> <li><a href="/wiki/Great_Recession_in_Russia" title="Great Recession in Russia">2008–2009 Russian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932009_Ukrainian_financial_crisis" title="2008–2009 Ukrainian financial crisis">2008–2009 Ukrainian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">2008–2011 Icelandic financial crisis</a></li> <li><a href="/wiki/Post-2008_Irish_banking_crisis" title="Post-2008 Irish banking crisis">2008–2011 Irish banking crisis</a></li> <li><a href="/wiki/2008%E2%80%932014_Spanish_financial_crisis" title="2008–2014 Spanish financial crisis">2008–2014 Spanish financial crisis</a></li> <li><a href="/wiki/Blue_Monday_Crash_2009" title="Blue Monday Crash 2009">Blue Monday Crash 2009</a></li> <li><a href="/wiki/European_debt_crisis" title="European debt crisis">European debt crisis</a></li> <li><a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a> (2009–present)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Dubai_World" title="Dubai World">2009 Dubai debt standstill</a></li> <li><a href="/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010" title="Venezuelan banking crisis of 2009–2010">Venezuelan banking crisis of 2009–2010</a></li> <li><a href="/wiki/2010%E2%80%932014_Portuguese_financial_crisis" title="2010–2014 Portuguese financial crisis">2010–2014 Portuguese financial crisis</a></li> <li><a href="/wiki/Energy_crisis_in_Venezuela" title="Energy crisis in Venezuela">Energy crisis in Venezuela</a> (2010–present)</li> <li><a href="/wiki/Economy_of_Syria" title="Economy of Syria">Syrian economic crisis</a> (2011–present)</li> <li><a href="/wiki/August_2011_stock_markets_fall" title="August 2011 stock markets fall">August 2011 stock markets fall</a></li> <li><a href="/wiki/2011_Bangladesh_share_market_scam" title="2011 Bangladesh share market scam">2011 Bangladesh share market scam</a></li> <li><a href="/wiki/2012%E2%80%932013_Cypriot_financial_crisis" title="2012–2013 Cypriot financial crisis">2012–2013 Cypriot financial crisis</a></li> <li><a href="/wiki/Chinese_Banking_Liquidity_Crisis_of_2013" title="Chinese Banking Liquidity Crisis of 2013">2013 Chinese banking liquidity crisis</a></li> <li><a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">Venezuela economic crisis</a> (2013–present)</li> <li><a class="mw-selflink selflink">2014–2016 Brazilian economic crisis</a></li> <li><a href="/wiki/Puerto_Rican_government-debt_crisis" title="Puerto Rican government-debt crisis">Puerto Rican government-debt crisis</a> (2014–2022)</li> <li><a href="/wiki/Russian_financial_crisis_(2014%E2%80%932016)" title="Russian financial crisis (2014–2016)">Russian financial crisis (2014–2016)</a></li> <li><a href="/wiki/2015_Nepal_blockade" title="2015 Nepal blockade">2015 Nepal blockade</a></li> <li><a href="/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence" title="2015–2016 Chinese stock market turbulence">2015–2016 Chinese stock market turbulence</a></li> <li><a href="/wiki/2015%E2%80%932016_stock_market_selloff" title="2015–2016 stock market selloff">2015–2016 stock market selloff</a></li> <li><a href="/wiki/Economic_effects_of_Brexit" title="Economic effects of Brexit">Brexit stock market crash</a> (2016)</li> <li><a href="/wiki/Hyperinflation_in_Venezuela" title="Hyperinflation in Venezuela">Venezuelan hyperinflation</a> (2016–2022)</li> <li><a href="/wiki/2017_Sri_Lankan_fuel_crisis" title="2017 Sri Lankan fuel crisis">2017 Sri Lankan fuel crisis</a></li> <li><a href="/wiki/Ghana_banking_crisis" title="Ghana banking crisis">Ghana banking crisis</a> (2017–2018)</li> <li><a href="/wiki/Turkish_economic_crisis_(2018%E2%80%93current)" title="Turkish economic crisis (2018–current)">Turkish economic crisis</a> (2018–present)</li> <li><a href="/wiki/Lebanese_liquidity_crisis" title="Lebanese liquidity crisis">Lebanese liquidity crisis</a> (2019–present)</li> <li><a href="/wiki/Sri_Lankan_economic_crisis_(2019%E2%80%93present)" title="Sri Lankan economic crisis (2019–present)">Sri Lankan economic crisis</a> (2019–present)</li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">COVID-19 pandemic</a> <ul><li><a href="/wiki/Financial_market_impact_of_the_COVID-19_pandemic" title="Financial market impact of the COVID-19 pandemic">Financial market impact</a></li> <li><a href="/wiki/2020_stock_market_crash" title="2020 stock market crash">2020 stock market crash</a></li> <li><a href="/wiki/Early_2020s_recession" class="mw-redirect" title="Early 2020s recession">Recession</a></li></ul></li> <li><a href="/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)" title="Chinese property sector crisis (2020–present)">Chinese property sector crisis</a> (2020–present)</li> <li><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></li> <li><a href="/wiki/Economic_impact_of_the_Russian_invasion_of_Ukraine" title="Economic impact of the Russian invasion of Ukraine">2022 Russian financial crisis</a></li> <li><a href="/wiki/Pakistani_economic_crisis_(2022%E2%80%93present)" title="Pakistani economic crisis (2022–present)">Pakistani economic crisis</a> (2022–present)</li> <li><a href="/wiki/2022_stock_market_decline" title="2022 stock market decline">2022 stock market decline</a></li> <li><a href="/wiki/German_economic_crisis_(2022%E2%80%93present)" title="German economic crisis (2022–present)">2022–2024 German economic crisis</a></li> <li><a href="/wiki/2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></li> <li><a href="/wiki/2023%E2%80%932024_Egyptian_financial_crisis" title="2023–2024 Egyptian financial crisis">2023–2024 Egyptian financial crisis</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/List_of_banking_crises" title="List of banking crises">List of banking crises</a></li> <li><a href="/wiki/List_of_economic_crises" title="List of economic crises">List of economic crises</a></li> <li><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></li> <li><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Operation_Car_Wash" style="wide;padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Operation_Car_Wash" title="Template:Operation Car Wash"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Operation_Car_Wash" title="Template talk:Operation Car Wash"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Operation_Car_Wash" title="Special:EditPage/Template:Operation Car Wash"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Operation_Car_Wash" style="font-size:114%;margin:0 4em"><a href="/wiki/Operation_Car_Wash" title="Operation Car Wash">Operation Car Wash</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><a href="/wiki/Phases_of_Operation_Car_Wash" title="Phases of Operation Car Wash">Phases</a></li> <li><a href="/wiki/Offshoots_of_Operation_Car_Wash" title="Offshoots of Operation Car Wash">Offshoots</a></li> <li><a href="/wiki/Offshoots_of_Operation_Car_Wash_outside_Brazil" class="mw-redirect" title="Offshoots of Operation Car Wash outside Brazil">Offshoots abroad</a> <ul><li><a href="/wiki/Odebrecht_Case" class="mw-redirect" title="Odebrecht Case">Odebrecht Case</a></li></ul></li> <li><a href="/wiki/List_of_scandals_in_Brazil" title="List of scandals in Brazil">other scandals</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;vertical-align:center; text-align:center">General topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2015%E2%80%932016_protests_in_Brazil" title="2015–2016 protests in Brazil">2015–2016 protests in Brazil</a></li> <li><a href="/wiki/BANCOOP_case" title="BANCOOP case">BANCOOP case</a></li> <li><a href="/wiki/Brazil_cost" title="Brazil cost">Brazil cost</a></li> <li><a href="/w/index.php?title=Operation_Car_Wash_controversies&action=edit&redlink=1" class="new" title="Operation Car Wash controversies (page does not exist)">Controversies</a> [<a href="https://pt.wikipedia.org/wiki/Controv%C3%A9rsias_envolvendo_a_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Controvérsias envolvendo a Operação Lava Jato">pt</a>] <ul><li><a href="/wiki/Operation_Spoofing" class="mw-redirect" title="Operation Spoofing">Operation Spoofing</a> [<a href="https://pt.wikipedia.org/wiki/Opera%C3%A7%C3%A3o_Spoofing" class="extiw" title="pt:Operação Spoofing">pt</a>]</li></ul></li> <li><a href="/wiki/Corruption_in_Brazil" title="Corruption in Brazil">Corruption in Brazil</a></li> <li><a href="/wiki/Criticism_of_Rede_Globo#Operation_Car_Wash" class="mw-redirect" title="Criticism of Rede Globo">Criticism of Rede Globo</a></li> <li><a href="/wiki/Economy_of_Brazil" title="Economy of Brazil">Economy</a></li> <li><a href="/wiki/Electricity_sector_in_Brazil" title="Electricity sector in Brazil">Electricity sector</a></li> <li><a href="/wiki/History_of_Brazil_since_1985" class="mw-redirect" title="History of Brazil since 1985">History since 1985</a></li> <li><a href="/wiki/Law_enforcement_in_Brazil" title="Law enforcement in Brazil">Law enforcement</a></li> <li><a href="/wiki/Vaza_Jato" title="Vaza Jato">Leaked conversations</a></li> <li><a href="/w/index.php?title=Leniency_agreements_in_Operation_Car_Wash&action=edit&redlink=1" class="new" title="Leniency agreements in Operation Car Wash (page does not exist)">Leniency agreements offered</a> [<a href="https://pt.wikipedia.org/wiki/Acordos_de_dela%C3%A7%C3%A3o_premiada_na_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Acordos de delação premiada na Operação Lava Jato">pt</a>] <ul><li><a href="/wiki/Odebrecht%E2%80%93Car_Wash_leniency_agreement" title="Odebrecht–Car Wash leniency agreement">Odebrecht</a></li> <li><a href="/w/index.php?title=JBS%E2%80%93Car_Wash_leniency_agreement&action=edit&redlink=1" class="new" title="JBS–Car Wash leniency agreement (page does not exist)">JBS</a> [<a href="https://pt.wikipedia.org/wiki/Dela%C3%A7%C3%B5es_da_JBS_na_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Delações da JBS na Operação Lava Jato">pt</a>]</li></ul></li> <li><a href="/wiki/Mensal%C3%A3o" class="mw-redirect" title="Mensalão">Mensalão</a></li> <li><a href="/wiki/Mining_in_Brazil" title="Mining in Brazil">Mining</a></li> <li>Lists <ul><li><a href="/w/index.php?title=List_of_companies_involved_in_Operation_Car_Wash&action=edit&redlink=1" class="new" title="List of companies involved in Operation Car Wash (page does not exist)">Companies involved</a> [<a href="https://pt.wikipedia.org/wiki/Lista_de_empresas_envolvidas_na_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Lista de empresas envolvidas na Operação Lava Jato">pt</a>]</li> <li><a href="/w/index.php?title=List_of_people_involved_in_Operation_Car_Wash&action=edit&redlink=1" class="new" title="List of people involved in Operation Car Wash (page does not exist)">People involved</a> [<a href="https://pt.wikipedia.org/wiki/Lista_de_pessoas_envolvidas_na_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Lista de pessoas envolvidas na Operação Lava Jato">pt</a>]</li> <li><a href="/w/index.php?title=List_of_people_convicted_in_Operation_Car_Wash&action=edit&redlink=1" class="new" title="List of people convicted in Operation Car Wash (page does not exist)">People convicted</a> [<a href="https://pt.wikipedia.org/wiki/Lista_de_pessoas_condenadas_na_Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Lista de pessoas condenadas na Operação Lava Jato">pt</a>]</li></ul></li> <li><a href="/wiki/Penal_Code_of_Brazil" title="Penal Code of Brazil">Penal Code</a></li> <li><a href="/wiki/Vaza_Jato" title="Vaza Jato">Vaza Jato</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="5" style="width:1px;padding:0 0 0 2px"><div><a href="/wiki/File:Montagem_Lava_Jato.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Montagem_Lava_Jato.jpg/130px-Montagem_Lava_Jato.jpg" decoding="async" width="130" height="156" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Montagem_Lava_Jato.jpg/195px-Montagem_Lava_Jato.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/97/Montagem_Lava_Jato.jpg/260px-Montagem_Lava_Jato.jpg 2x" data-file-width="1000" data-file-height="1200" /></a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;vertical-align:center; text-align:center">Investi- gators</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Prosecutors</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Athayde_Ribeiro_Costa&action=edit&redlink=1" class="new" title="Athayde Ribeiro Costa (page does not exist)">Athayde Ribeiro Costa</a> [<a href="https://pt.wikipedia.org/wiki/Athayde_Ribeiro_Costa" class="extiw" title="pt:Athayde Ribeiro Costa">pt</a>]</li> <li><a href="/w/index.php?title=Carlos_Fernando_dos_Santos_Lima&action=edit&redlink=1" class="new" title="Carlos Fernando dos Santos Lima (page does not exist)">Carlos Fernando dos Santos Lima</a> [<a href="https://pt.wikipedia.org/wiki/Carlos_Fernando_dos_Santos_Lima" class="extiw" title="pt:Carlos Fernando dos Santos Lima">pt</a>]</li> <li><a href="/wiki/Deltan_Dallagnol" title="Deltan Dallagnol">Deltan Dallagnol</a></li> <li><a href="/w/index.php?title=Diogo_Castor_de_Mattos&action=edit&redlink=1" class="new" title="Diogo Castor de Mattos (page does not exist)">Diogo Castor de Mattos</a> [<a href="https://pt.wikipedia.org/wiki/Diogo_Castor_de_Mattos" class="extiw" title="pt:Diogo Castor de Mattos">pt</a>]</li> <li><a href="/wiki/Erika_Marena" title="Erika Marena">Erika Marena</a></li> <li><a href="/w/index.php?title=Igor_Rom%C3%A1rio_de_Paula&action=edit&redlink=1" class="new" title="Igor Romário de Paula (page does not exist)">Igor Romário de Paula</a> [<a href="https://pt.wikipedia.org/wiki/Igor_Rom%C3%A1rio_de_Paula" class="extiw" title="pt:Igor Romário de Paula">pt</a>]</li> <li><a href="/w/index.php?title=Isabel_Groba_Vieira&action=edit&redlink=1" class="new" title="Isabel Groba Vieira (page does not exist)">Isabel Groba Vieira</a> [<a href="https://pt.wikipedia.org/wiki/Isabel_Groba_Vieira" class="extiw" title="pt:Isabel Groba Vieira">pt</a>]</li> <li><a href="/w/index.php?title=Jerusa_Burmann_Viecili&action=edit&redlink=1" class="new" title="Jerusa Burmann Viecili (page does not exist)">Jerusa Burmann Viecili</a> [<a href="https://pt.wikipedia.org/wiki/Jerusa_Burmann_Viecili" class="extiw" title="pt:Jerusa Burmann Viecili">pt</a>]</li> <li><a href="/w/index.php?title=Laura_Tessler&action=edit&redlink=1" class="new" title="Laura Tessler (page does not exist)">Laura Tessler</a> [<a href="https://pt.wikipedia.org/wiki/Laura_Tessler" class="extiw" title="pt:Laura Tessler">pt</a>]</li> <li><a href="/w/index.php?title=Orlando_Martello_J%C3%BAnior&action=edit&redlink=1" class="new" title="Orlando Martello Júnior (page does not exist)">Orlando Martello Júnior</a> [<a href="https://pt.wikipedia.org/wiki/Orlando_Martello_J%C3%BAnior" class="extiw" title="pt:Orlando Martello Júnior">pt</a>]</li> <li><a href="/w/index.php?title=Paulo_Roberto_Galv%C3%A3o&action=edit&redlink=1" class="new" title="Paulo Roberto Galvão (page does not exist)">Paulo Roberto Galvão</a> [<a href="https://pt.wikipedia.org/wiki/Paulo_Roberto_Galv%C3%A3o" class="extiw" title="pt:Paulo Roberto Galvão">pt</a>]</li> <li><a href="/w/index.php?title=Roberson_Pozzobon&action=edit&redlink=1" class="new" title="Roberson Pozzobon (page does not exist)">Roberson Pozzobon</a> [<a href="https://pt.wikipedia.org/wiki/Roberson_Pozzobon" class="extiw" title="pt:Roberson Pozzobon">pt</a>]</li> <li><a href="/wiki/Raquel_Dodge" title="Raquel Dodge">Raquel Dodge</a> </li> <li><a href="/wiki/Rodrigo_Janot" title="Rodrigo Janot">Rodrigo Janot</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Judges</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Alexandre_de_Moraes" title="Alexandre de Moraes">Alexandre de Moraes</a> </li> <li><a href="/wiki/Carmen_L%C3%BAcia_(justice)" class="mw-redirect" title="Carmen Lúcia (justice)">Carmen Lúcia</a> </li> <li><a href="/w/index.php?title=Carolina_Lebbos&action=edit&redlink=1" class="new" title="Carolina Lebbos (page does not exist)">Carolina Lebbos</a> [<a href="https://pt.wikipedia.org/wiki/Carolina_Lebbos" class="extiw" title="pt:Carolina Lebbos">pt</a>] </li> <li><a href="/wiki/Celso_de_Mello" class="mw-redirect" title="Celso de Mello">Celso de Mello</a> </li> <li><a href="/wiki/Dias_Toffoli" title="Dias Toffoli">Dias Toffoli</a> </li> <li><a href="/wiki/Edson_Fachin" title="Edson Fachin">Edson Fachin</a> </li> <li><a href="/w/index.php?title=Felix_Fischer&action=edit&redlink=1" class="new" title="Felix Fischer (page does not exist)">Felix Fischer</a> [<a href="https://pt.wikipedia.org/wiki/Felix_Fischer" class="extiw" title="pt:Felix Fischer">pt</a>] </li> <li><a href="/w/index.php?title=Gabriela_Hardt&action=edit&redlink=1" class="new" title="Gabriela Hardt (page does not exist)">Gabriela Hardt</a> [<a href="https://pt.wikipedia.org/wiki/Gabriela_Hardt" class="extiw" title="pt:Gabriela Hardt">pt</a>] </li> <li><a href="/wiki/Gilmar_Mendes" title="Gilmar Mendes">Gilmar Mendes</a> </li> <li><a href="/w/index.php?title=Jo%C3%A3o_Pedro_Gebran_Neto&action=edit&redlink=1" class="new" title="João Pedro Gebran Neto (page does not exist)">João Pedro Gebran Neto</a> [<a href="https://pt.wikipedia.org/wiki/Jo%C3%A3o_Pedro_Gebran_Neto" class="extiw" title="pt:João Pedro Gebran Neto">pt</a>] </li> <li><a href="/w/index.php?title=Leandro_Paulsen&action=edit&redlink=1" class="new" title="Leandro Paulsen (page does not exist)">Leandro Paulsen</a> [<a href="https://pt.wikipedia.org/wiki/Leandro_Paulsen" class="extiw" title="pt:Leandro Paulsen">pt</a>] </li> <li><a href="/wiki/Lu%C3%ADs_Roberto_Barroso" title="Luís Roberto Barroso">Luís Roberto Barroso</a> </li> <li><a href="/w/index.php?title=Luiz_Ant%C3%B4nio_Bonat&action=edit&redlink=1" class="new" title="Luiz Antônio Bonat (page does not exist)">Luiz Antônio Bonat</a> [<a href="https://pt.wikipedia.org/wiki/Luiz_Ant%C3%B4nio_Bonat" class="extiw" title="pt:Luiz Antônio Bonat">pt</a>] </li> <li><a href="/wiki/Luiz_Fux" title="Luiz Fux">Luiz Fux</a> </li> <li><a href="/w/index.php?title=Marcelo_Bretas&action=edit&redlink=1" class="new" title="Marcelo Bretas (page does not exist)">Marcelo Bretas</a> [<a href="https://pt.wikipedia.org/wiki/Marcelo_Bretas" class="extiw" title="pt:Marcelo Bretas">pt</a>] </li> <li><a href="/wiki/Marco_Aur%C3%A9lio_Mello" title="Marco Aurélio Mello">Marco Aurélio Mello</a> </li> <li><a href="/wiki/Ricardo_Lewandowski" title="Ricardo Lewandowski">Ricardo Lewandowski</a> </li> <li><a href="/wiki/Rosa_Weber" title="Rosa Weber">Rosa Weber</a> </li> <li><a href="/wiki/Sergio_Moro" title="Sergio Moro">Sergio Moro</a> </li> <li><a href="/wiki/Teori_Zavascki" title="Teori Zavascki">Teori Zavascki</a> </li> <li><a href="/w/index.php?title=Vallisney_de_Souza_Oliveira&action=edit&redlink=1" class="new" title="Vallisney de Souza Oliveira (page does not exist)">Vallisney de Souza Oliveira</a> [<a href="https://pt.wikipedia.org/wiki/Vallisney_de_Souza_Oliveira" class="extiw" title="pt:Vallisney de Souza Oliveira">pt</a>] </li> <li><a href="/w/index.php?title=Victor_Luiz_dos_Santos_Laus&action=edit&redlink=1" class="new" title="Victor Luiz dos Santos Laus (page does not exist)">Victor Luiz dos Santos Laus</a> [<a href="https://pt.wikipedia.org/wiki/Victor_Luiz_dos_Santos_Laus" class="extiw" title="pt:Victor Luiz dos Santos Laus">pt</a>]</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Agencies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Federal_Police_of_Brazil" title="Federal Police of Brazil">Federal Police</a></li> <li><a href="/wiki/Federal_Public_Prosecutor%27s_Office_(Brazil)" class="mw-redirect" title="Federal Public Prosecutor's Office (Brazil)">Public Prosecutor's Office</a> (MPU)</li> <li><a href="/wiki/Minist%C3%A9rio_P%C3%BAblico_Federal" class="mw-redirect" title="Ministério Público Federal">Federal Public Ministry</a> (MPF)</li> <li><a href="/wiki/Federal_Regional_Court" class="mw-redirect" title="Federal Regional Court">Federal Regional Court</a></li> <li><a href="/wiki/Supreme_Federal_Court" title="Supreme Federal Court">Supreme Federal Court</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;vertical-align:center; text-align:center">Targets</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Companies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Abreu_and_Lima_Refinery&action=edit&redlink=1" class="new" title="Abreu and Lima Refinery (page does not exist)">Abreu and Lima Refinery</a> [<a href="https://pt.wikipedia.org/wiki/Refinaria_Abreu_e_Lima" class="extiw" title="pt:Refinaria Abreu e Lima">pt</a>]</li> <li><a href="/wiki/Camargo_Correa" class="mw-redirect" title="Camargo Correa">Camargo Correa</a></li> <li><a href="/w/index.php?title=Construtora_OAS&action=edit&redlink=1" class="new" title="Construtora OAS (page does not exist)">Construtora OAS</a> [<a href="https://pt.wikipedia.org/wiki/Construtora_OAS" class="extiw" title="pt:Construtora OAS">pt</a>]</li> <li><a href="/w/index.php?title=Engevix&action=edit&redlink=1" class="new" title="Engevix (page does not exist)">Engevix</a> [<a href="https://pt.wikipedia.org/wiki/Engevix" class="extiw" title="pt:Engevix">pt</a>]</li> <li><a href="/w/index.php?title=Galv%C3%A3o_Engenharia&action=edit&redlink=1" class="new" title="Galvão Engenharia (page does not exist)">Galvão Engenharia</a> [<a href="https://pt.wikipedia.org/wiki/Galv%C3%A3o_Engenharia" class="extiw" title="pt:Galvão Engenharia">pt</a>]</li> <li><a href="/w/index.php?title=IESA_%C3%93leo_e_G%C3%A1s&action=edit&redlink=1" class="new" title="IESA Óleo e Gás (page does not exist)">IESA Óleo e Gás</a> [<a href="https://pt.wikipedia.org/wiki/IESA_%C3%93leo_e_G%C3%A1s" class="extiw" title="pt:IESA Óleo e Gás">pt</a>]</li> <li><a href="/wiki/JBS_S.A." title="JBS S.A.">JBS S.A.</a></li> <li><a href="/wiki/J%26F_Investimentos" title="J&F Investimentos">J&F Investimentos</a></li> <li><a href="/w/index.php?title=Mendes_J%C3%BAnior&action=edit&redlink=1" class="new" title="Mendes Júnior (page does not exist)">Mendes Júnior</a> [<a href="https://pt.wikipedia.org/wiki/Mendes_J%C3%BAnior" class="extiw" title="pt:Mendes Júnior">pt</a>]</li> <li><a href="/wiki/Odebrecht" title="Odebrecht">Odebrecht</a></li> <li><a href="/w/index.php?title=Queiroz_Galv%C3%A3o&action=edit&redlink=1" class="new" title="Queiroz Galvão (page does not exist)">Queiroz Galvão</a> [<a href="https://pt.wikipedia.org/wiki/Queiroz_Galv%C3%A3o" class="extiw" title="pt:Queiroz Galvão">pt</a>]</li> <li><a href="/w/index.php?title=UTC_Engenharia&action=edit&redlink=1" class="new" title="UTC Engenharia (page does not exist)">UTC Engenharia</a> [<a href="https://pt.wikipedia.org/wiki/UTC_Engenharia" class="extiw" title="pt:UTC Engenharia">pt</a>]</li></ul> <ul><li><a href="/wiki/Cemig" class="mw-redirect" title="Cemig">Cemig</a></li> <li><a href="/wiki/Furnas" title="Furnas">Furnas</a></li> <li><a href="/wiki/Petrobras" title="Petrobras">Petrobras</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">People</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Presidents</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Michel_Temer" title="Michel Temer">Michel Temer</a></li> <li><a href="/wiki/Dilma_Rousseff" title="Dilma Rousseff">Dilma Rousseff</a></li> <li><a href="/wiki/Luiz_In%C3%A1cio_Lula_da_Silva" title="Luiz Inácio Lula da Silva">Luiz Inácio Lula da Silva</a></li> <li><a href="/wiki/Fernando_Collor_de_Mello" title="Fernando Collor de Mello">Fernando Collor de Mello</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Governors</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/S%C3%A9rgio_Cabral_Filho" title="Sérgio Cabral Filho">Sérgio Cabral Filho</a></li> <li><a href="/wiki/Renan_Filho" title="Renan Filho">Renan Filho</a></li> <li><a href="/wiki/Robinson_Faria" title="Robinson Faria">Robinson Faria</a></li> <li><a href="/wiki/Ti%C3%A3o_Viana" title="Tião Viana">Tião Viana</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Ministers</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Jos%C3%A9_Dirceu" title="José Dirceu">José Dirceu </a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Senators</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/A%C3%A9cio_Neves_da_Cunha" class="mw-redirect" title="Aécio Neves da Cunha">Aécio Neves da Cunha</a></li> <li><a href="/wiki/Ant%C3%B4nio_Anastasia" class="mw-redirect" title="Antônio Anastasia">Antônio Anastasia </a></li> <li><a href="/wiki/C%C3%A1ssio_Cunha_Lima" title="Cássio Cunha Lima">Cássio Cunha Lima</a></li> <li><a href="/wiki/Ciro_Nogueira" class="mw-redirect" title="Ciro Nogueira">Ciro Nogueira</a></li> <li><a href="/wiki/Dal%C3%ADrio_Beber" class="mw-redirect" title="Dalírio Beber">Dalírio Beber</a></li> <li><a href="/wiki/Edison_Lob%C3%A3o" title="Edison Lobão">Edison Lobão</a></li> <li><a href="/wiki/Eduardo_Amorim_(politician)" title="Eduardo Amorim (politician)">Eduardo Amorim</a></li> <li><a href="/wiki/Eduardo_Braga" title="Eduardo Braga">Eduardo Braga</a></li> <li><a href="/wiki/Eun%C3%ADcio_Oliveira" title="Eunício Oliveira">Eunício Oliveira </a></li> <li><a href="/wiki/Fernando_Bezerra_Coelho" title="Fernando Bezerra Coelho">Fernando Bezerra Coelho</a></li> <li><a href="/wiki/Garibaldi_Alves_Filho" title="Garibaldi Alves Filho">Garibaldi Alves Filho </a></li> <li><a href="/wiki/Humberto_Costa" title="Humberto Costa">Humberto Costa</a></li> <li><a href="/wiki/Ivo_Cassol" title="Ivo Cassol">Ivo Cassol</a></li> <li><a href="/wiki/Jorge_Viana" title="Jorge Viana">Jorge Viana</a></li> <li><a href="/wiki/Jos%C3%A9_Agripino_Maia" title="José Agripino Maia">José Agripino Maia</a></li> <li><a href="/wiki/Jos%C3%A9_Serra" title="José Serra">José Serra </a></li> <li><a href="/wiki/K%C3%A1tia_Abreu" title="Kátia Abreu">Kátia Abreu</a></li> <li><a href="/wiki/L%C3%ADdice_da_Mata" title="Lídice da Mata">Lídice da Mata</a></li> <li><a href="/wiki/Lindbergh_Farias" title="Lindbergh Farias">Lindbergh Farias </a></li> <li><a href="/wiki/Maria_do_Carmo_Alves" title="Maria do Carmo Alves">Maria do Carmo Alves</a></li> <li><a href="/wiki/Marta_Suplicy" title="Marta Suplicy">Marta Suplicy</a></li> <li><a href="/wiki/Omar_Aziz" title="Omar Aziz">Omar Aziz</a></li> <li><a href="/wiki/Paulo_Rocha_(Brazilian_politician)" title="Paulo Rocha (Brazilian politician)">Paulo Rocha</a></li> <li><a href="/wiki/Renan_Calheiros" title="Renan Calheiros">Renan Calheiros</a></li> <li><a href="/wiki/Ricardo_Ferra%C3%A7o" title="Ricardo Ferraço">Ricardo Ferraço</a></li> <li><a href="/wiki/Romero_Juc%C3%A1" title="Romero Jucá">Romero Jucá</a></li> <li><a href="/wiki/Valdir_Raupp" title="Valdir Raupp">Valdir Raupp </a></li> <li><a href="/wiki/Vanessa_Grazziotin" title="Vanessa Grazziotin">Vanessa Grazziotin</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Deputies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Alfredo_Nascimento_(politician)" title="Alfredo Nascimento (politician)">Alfredo Nascimento</a></li> <li><a href="/wiki/Ant%C3%B4nio_Britto" title="Antônio Britto">Antônio Britto</a></li> <li><a href="/wiki/Arlindo_Chinaglia" title="Arlindo Chinaglia">Arlindo Chinaglia</a></li> <li><a href="/wiki/Celso_Russomano" class="mw-redirect" title="Celso Russomano">Celso Russomano</a></li> <li><a href="/wiki/Daniel_Almeida" title="Daniel Almeida">Daniel Almeida</a></li> <li><a href="/wiki/F%C3%A1bio_Faria_(politician)" title="Fábio Faria (politician)">Fábio Faria (politician)</a></li> <li><a href="/wiki/Jarbas_Vasconcelos" title="Jarbas Vasconcelos">Jarbas Vasconcelos</a></li> <li><a href="/wiki/Jos%C3%A9_Carneiro" class="mw-redirect" title="José Carneiro">José Carneiro</a></li> <li><a href="/wiki/Onyx_Lorenzoni" title="Onyx Lorenzoni">Onyx Lorenzoni</a></li> <li><a href="/wiki/Paulinho_da_For%C3%A7a" title="Paulinho da Força">Paulinho da Força</a></li> <li><a href="/w/index.php?title=Pedro_Paulo_Teixeira&action=edit&redlink=1" class="new" title="Pedro Paulo Teixeira (page does not exist)">Pedro Paulo Teixeira</a></li> <li><a href="/wiki/Rodrigo_Garcia_(politician)" title="Rodrigo Garcia (politician)">Rodrigo Garcia</a></li> <li><a href="/wiki/Rodrigo_Maia" title="Rodrigo Maia">Rodrigo Maia</a></li> <li><a href="/wiki/Yeda_Crusius" title="Yeda Crusius">Yeda Crusius</a></li> <li><a href="/wiki/Antonio_Brito" title="Antonio Brito">Antonio Brito</a></li> <li><a href="/w/index.php?title=Betinho_Gomes&action=edit&redlink=1" class="new" title="Betinho Gomes (page does not exist)">Betinho Gomes</a> [<a href="https://pt.wikipedia.org/wiki/Betinho_Gomes" class="extiw" title="pt:Betinho Gomes">pt</a>]</li> <li><a href="/w/index.php?title=Cac%C3%A1_Le%C3%A3o&action=edit&redlink=1" class="new" title="Cacá Leão (page does not exist)">Cacá Leão</a> [<a href="https://pt.wikipedia.org/wiki/Cac%C3%A1_Le%C3%A3o" class="extiw" title="pt:Cacá Leão">pt</a>]</li> <li><a href="/w/index.php?title=Carlos_Zarattini&action=edit&redlink=1" class="new" title="Carlos Zarattini (page does not exist)">Carlos Zarattini</a> [<a href="https://pt.wikipedia.org/wiki/Carlos_Zarattini" class="extiw" title="pt:Carlos Zarattini">pt</a>]</li> <li><a href="/w/index.php?title=Daniel_Vilela&action=edit&redlink=1" class="new" title="Daniel Vilela (page does not exist)">Daniel Vilela</a> [<a href="https://pt.wikipedia.org/wiki/Daniel_Vilela" class="extiw" title="pt:Daniel Vilela">pt</a>]</li> <li><a href="/w/index.php?title=Dimas_Toledo&action=edit&redlink=1" class="new" title="Dimas Toledo (page does not exist)">Dimas Toledo</a> [<a href="https://pt.wikipedia.org/wiki/Dimas_Toledo" class="extiw" title="pt:Dimas Toledo">pt</a>]</li> <li><a href="/w/index.php?title=Felipe_Maia_(politician)&action=edit&redlink=1" class="new" title="Felipe Maia (politician) (page does not exist)">Felipe Maia</a> [<a href="https://pt.wikipedia.org/wiki/Felipe_Maia" class="extiw" title="pt:Felipe Maia">pt</a>]</li> <li><a href="/w/index.php?title=Her%C3%A1clito_Fortes&action=edit&redlink=1" class="new" title="Heráclito Fortes (page does not exist)">Heráclito Fortes</a> [<a href="https://pt.wikipedia.org/wiki/Her%C3%A1clito_Fortes" class="extiw" title="pt:Heráclito Fortes">pt</a>]</li> <li><a href="/w/index.php?title=Jo%C3%A3o_Carlos_Bacelar&action=edit&redlink=1" class="new" title="João Carlos Bacelar (page does not exist)">João Carlos Bacelar</a> [<a href="https://pt.wikipedia.org/wiki/Jo%C3%A3o_Carlos_Bacelar" class="extiw" title="pt:João Carlos Bacelar">pt</a>]</li> <li><a href="/wiki/Jo%C3%A3o_Vaccari_Neto" title="João Vaccari Neto">João Vaccari Neto</a></li> <li><a href="/w/index.php?title=J%C3%BAlio_Lopes&action=edit&redlink=1" class="new" title="Júlio Lopes (page does not exist)">Júlio Lopes</a> [<a href="https://pt.wikipedia.org/wiki/J%C3%BAlio_Lopes" class="extiw" title="pt:Júlio Lopes">pt</a>]</li> <li><a href="/w/index.php?title=L%C3%BAcio_Vieira_Lima&action=edit&redlink=1" class="new" title="Lúcio Vieira Lima (page does not exist)">Lúcio Vieira Lima</a> [<a href="https://pt.wikipedia.org/wiki/L%C3%BAcio_Vieira_Lima" class="extiw" title="pt:Lúcio Vieira Lima">pt</a>]</li> <li><a href="/w/index.php?title=M%C3%A1rio_Negromonte_Jr&action=edit&redlink=1" class="new" title="Mário Negromonte Jr (page does not exist)">Mário Negromonte Jr</a> [<a href="https://pt.wikipedia.org/wiki/M%C3%A1rio_Negromonte_Jr" class="extiw" title="pt:Mário Negromonte Jr">pt</a>]</li> <li><a href="/w/index.php?title=Milton_Monti&action=edit&redlink=1" class="new" title="Milton Monti (page does not exist)">Milton Monti</a> [<a href="https://pt.wikipedia.org/wiki/Milton_Monti" class="extiw" title="pt:Milton Monti">pt</a>]</li> <li><a href="/w/index.php?title=Nelson_Pellegrino&action=edit&redlink=1" class="new" title="Nelson Pellegrino (page does not exist)">Nelson Pellegrino</a> [<a href="https://pt.wikipedia.org/wiki/Nelson_Pellegrino" class="extiw" title="pt:Nelson Pellegrino">pt</a>]</li> <li><a href="/w/index.php?title=Paulo_Lustosa&action=edit&redlink=1" class="new" title="Paulo Lustosa (page does not exist)">Paulo Lustosa</a> [<a href="https://pt.wikipedia.org/wiki/Paulo_Lustosa" class="extiw" title="pt:Paulo Lustosa">pt</a>]</li> <li><a href="/w/index.php?title=Vander_Loubet&action=edit&redlink=1" class="new" title="Vander Loubet (page does not exist)">Vander Loubet</a> [<a href="https://pt.wikipedia.org/wiki/Vander_Loubet" class="extiw" title="pt:Vander Loubet">pt</a>]</li> <li><a href="/w/index.php?title=Vicente_C%C3%A2ndido&action=edit&redlink=1" class="new" title="Vicente Cândido (page does not exist)">Vicente Cândido</a> [<a href="https://pt.wikipedia.org/wiki/Vicente_C%C3%A2ndido" class="extiw" title="pt:Vicente Cândido">pt</a>]</li> <li><a href="/w/index.php?title=Zeca_Dirceu&action=edit&redlink=1" class="new" title="Zeca Dirceu (page does not exist)">Zeca Dirceu</a> [<a href="https://pt.wikipedia.org/wiki/Zeca_Dirceu" class="extiw" title="pt:Zeca Dirceu">pt</a>]</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Public figures and politicians</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Henrique_Eduardo_Alves" title="Henrique Eduardo Alves">Henrique Eduardo Alves</a></li> <li><a href="/wiki/Renan_Calheiros" title="Renan Calheiros">Renan Calheiros</a></li> <li><a href="/wiki/Romero_Juc%C3%A1" title="Romero Jucá">Romero Jucá</a></li> <li><a href="/w/index.php?title=Eron_Bezerra&action=edit&redlink=1" class="new" title="Eron Bezerra (page does not exist)">Eron Bezerra</a> [<a href="https://pt.wikipedia.org/wiki/Eron_Bezerra" class="extiw" title="pt:Eron Bezerra">pt</a>]</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Oligarchs & top execs</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aldemir_Bendine" title="Aldemir Bendine">Aldemir Bendine</a></li> <li><a href="/wiki/Eike_Batista" title="Eike Batista">Eike Batista</a></li> <li><a href="/w/index.php?title=Eron_Bezerra&action=edit&redlink=1" class="new" title="Eron Bezerra (page does not exist)">Eron Bezerra</a> [<a href="https://pt.wikipedia.org/wiki/Eron_Bezerra" class="extiw" title="pt:Eron Bezerra">pt</a>]</li> <li><a href="/wiki/Henrique_Eduardo_Alves" title="Henrique Eduardo Alves">Henrique Eduardo Alves</a></li> <li><a href="/wiki/Renan_Calheiros" title="Renan Calheiros">Renan Calheiros</a></li> <li><a href="/wiki/Romero_Juc%C3%A1" title="Romero Jucá">Romero Jucá</a></li> <li><a href="/wiki/Marcelo_Odebrecht" title="Marcelo Odebrecht">Marcelo Odebrecht</a></li> <li><a href="/w/index.php?title=Fernando_Soares&action=edit&redlink=1" class="new" title="Fernando Soares (page does not exist)">Fernando Soares</a> [<a href="https://pt.wikipedia.org/wiki/Fernando_Soares" class="extiw" title="pt:Fernando Soares">pt</a>]</li> <li><a href="/w/index.php?title=Paulo_Roberto_Costa&action=edit&redlink=1" class="new" title="Paulo Roberto Costa (page does not exist)">Paulo Roberto Costa</a> [<a href="https://pt.wikipedia.org/wiki/Paulo_Roberto_Costa" class="extiw" title="pt:Paulo Roberto Costa">pt</a>]</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other Brazil</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/A%C3%A9cio_Neves" title="Aécio Neves">Aécio Neves</a></li> <li><a href="/wiki/Alberto_Youssef" title="Alberto Youssef">Alberto Youssef</a> </li> <li><a href="/w/index.php?title=Carlos_Habib_Chater&action=edit&redlink=1" class="new" title="Carlos Habib Chater (page does not exist)">Carlos Habib Chater</a> [<a href="https://pt.wikipedia.org/wiki/Carlos_Habib_Chater" class="extiw" title="pt:Carlos Habib Chater">pt</a>]</li> <li><a href="/wiki/Eduardo_Cunha" title="Eduardo Cunha">Eduardo Cunha</a></li> <li><a href="/w/index.php?title=Nelma_Kodama&action=edit&redlink=1" class="new" title="Nelma Kodama (page does not exist)">Nelma Kodama</a> [<a href="https://pt.wikipedia.org/wiki/Nelma_Kodama" class="extiw" title="pt:Nelma Kodama">pt</a>]</li> <li><a href="/wiki/Raul_Henrique_Srour" title="Raul Henrique Srour">Raul Henrique Srour</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Abroad</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Panama <ul><li><a href="/wiki/Ram%C3%B3n_Fonseca_Mora" title="Ramón Fonseca Mora">Ramón Fonseca Mora</a></li> <li><a href="/wiki/Ricardo_Martinelli" title="Ricardo Martinelli">Ricardo Martinelli</a></li></ul></li> <li>Peru <ul><li><a href="/wiki/Alan_Garc%C3%ADa" title="Alan García">Alan García</a></li> <li><a href="/wiki/Alejandro_Toledo" title="Alejandro Toledo">Alejandro Toledo</a></li> <li><a href="/wiki/Ollanta_Humala" title="Ollanta Humala">Ollanta Humala</a></li> <li><a href="/wiki/Pedro_Pablo_Kuczynski" title="Pedro Pablo Kuczynski">Pedro Pablo Kuczynski</a></li> <li><a href="/wiki/Keiko_Fujimori" title="Keiko Fujimori">Keiko Fujimori</a></li></ul></li> <li>Venezuela <ul><li><a href="/wiki/Hugo_Ch%C3%A1vez" title="Hugo Chávez">Hugo Chávez</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;vertical-align:center; text-align:center">Impact</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">2014 Brazilian economic crisis</a></li> <li><a href="/wiki/Arrest_of_Michel_Temer" class="mw-redirect" title="Arrest of Michel Temer">Arrest of Michel Temer</a></li> <li><a href="/wiki/Brazilian_Anti-Corruption_Act" title="Brazilian Anti-Corruption Act">Anti-Corruption Act</a></li> <li><a href="/w/index.php?title=Arrest_of_Luiz_In%C3%A1cio_Lula_da_Silva&action=edit&redlink=1" class="new" title="Arrest of Luiz Inácio Lula da Silva (page does not exist)">Arrest of Lula</a> [<a href="https://pt.wikipedia.org/wiki/Pris%C3%A3o_de_Luiz_In%C3%A1cio_Lula_da_Silva" class="extiw" title="pt:Prisão de Luiz Inácio Lula da Silva">pt</a>]</li> <li><a href="/wiki/Mani_pulite" title="Mani pulite">Mani pulite</a></li> <li><a href="/w/index.php?title=Pension_fund_inquiry&action=edit&redlink=1" class="new" title="Pension fund inquiry (page does not exist)">Pension fund inquiry</a> [<a href="https://pt.wikipedia.org/wiki/CPI_dos_Fundos_de_Pens%C3%A3o" class="extiw" title="pt:CPI dos Fundos de Pensão">pt</a>]</li> <li><a href="/w/index.php?title=Petrobras_inquiry&action=edit&redlink=1" class="new" title="Petrobras inquiry (page does not exist)">Petrobras inquiry</a> [<a href="https://pt.wikipedia.org/wiki/CPI_da_Petrobras" class="extiw" title="pt:CPI da Petrobras">pt</a>]</li> <li><a href="/w/index.php?title=Removal_of_A%C3%A9cio_Neves_from_the_Senate&action=edit&redlink=1" class="new" title="Removal of Aécio Neves from the Senate (page does not exist)">Removal of Aécio Neves</a> [<a href="https://pt.wikipedia.org/wiki/Afastamento_de_A%C3%A9cio_Neves_do_Senado_Federal" class="extiw" title="pt:Afastamento de Aécio Neves do Senado Federal">pt</a>] <ul><li><a href="/w/index.php?title=May_2016_leaks_crisis&action=edit&redlink=1" class="new" title="May 2016 leaks crisis (page does not exist)">May 2016 leaks crisis</a> [<a href="https://pt.wikipedia.org/wiki/Crise_dos_vazamentos_de_maio_de_2016" class="extiw" title="pt:Crise dos vazamentos de maio de 2016">pt</a>]</li></ul></li> <li><a href="/wiki/Impeachment_in_Brazil" class="mw-redirect" title="Impeachment in Brazil">Impeachments</a> <ul><li><a href="/w/index.php?title=Impeachment_of_Andr%C3%A9_Vargas&action=edit&redlink=1" class="new" title="Impeachment of André Vargas (page does not exist)">André Vargas</a> [<a href="https://pt.wikipedia.org/wiki/Processo_de_cassa%C3%A7%C3%A3o_de_Andr%C3%A9_Vargas" class="extiw" title="pt:Processo de cassação de André Vargas">pt</a>]</li> <li><a href="/w/index.php?title=Impeachment_of_Delc%C3%ADdio_do_Amaral&action=edit&redlink=1" class="new" title="Impeachment of Delcídio do Amaral (page does not exist)">Delcídio do Amaral</a> [<a href="https://pt.wikipedia.org/wiki/Processo_de_cassa%C3%A7%C3%A3o_de_Delc%C3%ADdio_do_Amaral" class="extiw" title="pt:Processo de cassação de Delcídio do Amaral">pt</a>]</li> <li><a href="/wiki/Impeachment_of_Dilma_Rousseff" title="Impeachment of Dilma Rousseff">Dilma Rousseff</a></li> <li><a href="/w/index.php?title=Impeachment_and_removal_of_Eduardo_Cunha&action=edit&redlink=1" class="new" title="Impeachment and removal of Eduardo Cunha (page does not exist)">Eduardo Cunha</a> [<a href="https://pt.wikipedia.org/wiki/Afastamento_e_cassa%C3%A7%C3%A3o_de_Eduardo_Cunha" class="extiw" title="pt:Afastamento e cassação de Eduardo Cunha">pt</a>]</li></ul></li> <li>Media <ul><li><a href="/wiki/Federal_Police:_The_Law_Is_for_Everyone" class="mw-redirect" title="Federal Police: The Law Is for Everyone">Federal Police: The Law Is for Everyone</a></li> <li><a href="/wiki/The_Mechanism_(TV_series)" title="The Mechanism (TV series)">The Mechanism</a></li></ul></li> <li><a href="/w/index.php?title=Quadrilh%C3%A3o&action=edit&redlink=1" class="new" title="Quadrilhão (page does not exist)">Quadrilhão (terminologia)</a></li> <li><a href="/wiki/Paraty_plane_crash" class="mw-redirect" title="Paraty plane crash">Paraty plane crash</a></li> <li><a href="/wiki/Removal_of_Eduardo_Cunha" title="Removal of Eduardo Cunha">Removal of Eduardo Cunha</a></li> <li><a href="/wiki/Vaza_Jato" title="Vaza Jato">Vaza Jato</a></li> <li>Abroad <ul><li><a href="/wiki/Peruvian_political_crisis_(2017%E2%80%93present)" class="mw-redirect" title="Peruvian political crisis (2017–present)">Peruvian political crisis</a></li> <li><a href="/wiki/First_impeachment_of_Pedro_Pablo_Kuczynski" title="First impeachment of Pedro Pablo Kuczynski">First impeachment of Pedro Pablo Kuczynski</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;vertical-align:center; text-align:center"><a href="/wiki/Glossary_of_Brazil_investigative_terms" title="Glossary of Brazil investigative terms">Terms</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Glossary_of_Brazil_investigative_terms#acordo_de_leniência" title="Glossary of Brazil investigative terms">acordo de leniência</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#active_corruption" title="Glossary of Brazil investigative terms">active corruption</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#Brazil_cost" title="Glossary of Brazil investigative terms">Brazil cost</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#caixa_2" title="Glossary of Brazil investigative terms">caixa 2</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#condução_coercitiva" title="Glossary of Brazil investigative terms">condução coercitiva</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#colaboração_premiada" title="Glossary of Brazil investigative terms">colaboração premiada</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#crédito_consignado" title="Glossary of Brazil investigative terms">crédito consignado</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#delação_premiada" title="Glossary of Brazil investigative terms">delação premiada</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#desembargador" title="Glossary of Brazil investigative terms">desembargador</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#dólar-cabo" title="Glossary of Brazil investigative terms">dólar-cabo</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#doleiro" title="Glossary of Brazil investigative terms">doleiro</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#passive_corruption" title="Glossary of Brazil investigative terms">passive corruption</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#prisão_preventiva" title="Glossary of Brazil investigative terms">prisão preventiva</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#prisão_temporária" title="Glossary of Brazil investigative terms">prisão temporária</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#rewarded_collaboration" title="Glossary of Brazil investigative terms">rewarded collaboration</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#rewarded_whistleblowing" title="Glossary of Brazil investigative terms">rewarded whistleblowing</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#setor_propina" title="Glossary of Brazil investigative terms">setor propina</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#superfaturamento" title="Glossary of Brazil investigative terms">superfaturamento</a></li> <li><a href="/wiki/Glossary_of_Brazil_investigative_terms#undue_advantage" title="Glossary of Brazil investigative terms">undue advantage</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="3"><div><a href="https://pt.wikipedia.org/wiki/Categoria:Opera%C3%A7%C3%A3o_Lava_Jato" class="extiw" title="pt:Categoria:Operação Lava Jato">Pt category</a></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=2014_Brazilian_economic_crisis&oldid=1234348487">https://en.wikipedia.org/w/index.php?title=2014_Brazilian_economic_crisis&oldid=1234348487</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a 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