Brazilian Stocks Rise as President Faces Impeachment

May 5, 2016

Unlocking Word Meanings

Read the following words/expressions found in today’s article. 

1. impeachment / ɪmˈpitʃ mənt / (n.) – the accusation of crimes against a public official in service that leads to removal from office
Example: The president faced impeachment for corruption accusations.

2. imminent / ˈɪm ə nənt / (adj.) – highly probable to happen soon
Example: The impeachment of the officials became imminent after the court ruling.

3. under fire / ˈʌn dər faɪər / (idiom) – to be criticized
Example: The administration is under fire after its course of action caused more harm.

4. keep mum /ˈkip ˈmʌm / (idiom) – to keep quiet
Example: The only witness kept mum after being threatened.

5. demonstration / ˌdɛm ənˈstreɪ ʃən / (n.) – the gathering of a group of people to express their opinion, such as their support or opposition, on something
Example: Thousands of protesters attended the demonstration.


Read the text below.
The Brazilian stock market’s value rises as the impeachment of Brazilian President Dilma Rousseff becomes more imminent.

The value of the Brazilian Bovespa stock index increased by 17% at the end of March. The investors’ anticipation that the Brazilian presidency will soon change caused this increase. Currently, calls for the impeachment of Brazil’s first female president keep getting stronger. 

President Rousseff has been under fire since the Brazilian Federal Court of Accounts accused her of manipulating the 2014 national budget accounts. In addition, Rousseff was accused of keeping mum about the corruption surrounding Petrobras, a state-owned oil company, despite allegedly knowing about it. Because of these accusations, Rousseff’s term is being plagued by a series of events that showed the people’s displeasure with her administration.

Several instances of anti-Rousseff demonstrations brought together millions of Brazilians. On March 13, the crowd calling for her removal reached three million, setting a record as the largest Brazilian demonstration in decades. In addition, Rousseff’s stay in office was threatened further when a major Brazilian political party, the Brazilian Democratic movement, withdrew its support from her government on March 29.

Because of these major events, investors expect that the president will be replaced soon. This major change in the government is expected to change the course of Brazil’s economy. The country is suffering from its worst recession in 25 years. It is believed that once Rousseff’s governance comes to an end, investor and consumer confidence would rise in Brazil and would revive the economy.

Viewpoint Discussion

Enjoy a discussion with your tutor.  

Discussion A

·         Do you believe that the Brazilian economy will improve upon Rousseff’s removal? Why or why not?
·         Would you invest in Brazil, given the country’s current situation? Why or why not?

Discussion B

·         Who do you think is most affected by a corrupt government? Why?
How can corruption be prevented?

May 5, 2016