From boom to bust: Brazil on the brink
As public anger grows at Dilma Rousseff over Brazil’s faltering economy, what is next for the Latin American giant?
A few years ago, Brazil’s President Dilma Rousseff appeared to be one of the luckiest politicians on record. She convincingly won an election, inherited a resource-rich economy and the country was making great strides in reducing poverty.
Fast-forward to today, the economy is heading for recession, unemployment is rising, prices are soaring, and there is a corruption scandal at state energy company Petrobras which dates back to Rousseff’s time as chair.
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Despite there being no evidence linking Rousseff to the bribes-for-contracts scheme, an independent investigation has alleged that bribes worth $2bn were paid to secure contracts with the firm.
Sapping business and consumer confidence, the country’s debt has reached a record high – up from $198bn in 2009 to $347bn today. The currency has tumbled by more than 50 percent and inflation is rising at almost eight percent.
Triggering widespread anger at the sitting president, large-scale demonstrations have rocked the country, with tens of thousands demanding Rousseff step down.
Carlos Pio, a political economist from Brasilia joins Counting the Cost to discuss what is next for the Latin American giant.
EU bans 700 ‘made in India’ drugs
The Indian pharmaceutical market was performing well in Europe and the West, offering cheap drugs to patients who could not afford to buy them at home.
New Delhi exported $15.4bn worth of pharmaceutical products in 2014, with Europe being an important market.
But with the European Union banning around 700 drugs from India, the industry could lose as much as $1.2bn.
Dilip Shah, the secretary-general of the Indian Pharmaceuticals Alliance, joins the programme to talk about the ban and what it means for India’s pharmaceutical industry.
The world’s first fully solar-powered airport
The world’s first ever fully solar-powered airport has been launched in the southern Indian state of Kerala.
The Indian government has already directed other airports around the country to start incorporating solar energy into their daily operations.
Al Jazeera’s Divya Gopalan reports from Kochi.
Published On 22 Aug 2015