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LatAm in Focus: Grupo Estado's Ricardo Gandour on Brazil in Crisis Mode

Latin America in Focus

March 10, 2016

“It’s a perfect storm.” Grupo @Estadao's Ricardo Gandour told @luisaleme about Brazil's crisis.
There are few certainties in Brazil these days. But one thing is clear: GDP will fall some 4%.

Brazil’s economic plunge is shaping one of its most difficult years in the last two decades. Not only did unemployment reach 9 percent in March, but inflation is rising and the country’s GDP shrank 3.7 percent in 2015. The negative numbers come at the same time as a major corruption scandal linked to state oil firm Petrobras and a political battle that could leave President Dilma Rousseff facing impeachment. 

"We all know that the current constitution is unfeasible."

“It’s a perfect storm,” says Ricardo Gandour, director of Estado Group, one of Brazil's largest media groups. Currently based in New York as a visiting scholar at Columbia University, he spoke with AS/COA Online’s Luisa Leme about recent events, such as former President Luiz Inácio Lula da Silva’s detention for questioning, a political leadership void, and why this could be a good moment for investment in Brazil. Ultimately, Gandour says the next president should propose a new constitution.