1. BackgroundThe early 1990’s in Brazil were marked by a combination of extremely high inflation, poor quality services and goods (which were mostly manufactured locally), onerous bureaucracy, and persistent corruption. An elected president, who followed a military government which had lasted for decades, was seen to be looting most Brazilians’ savings. He was in turn removed from office and then impeached amid a corruption scandal. No wonder distrust in Brazilian public officials has been so high.But much has now changed in Brazil. From extractive industries to soccer stadium construction, Brazil has been growing non-stop locally and internationally; in addition, some projects are too challenging, costly or risky to be assumed by Brazilians only.Brazil has signed and implemented key international treaties or conventions under which corruption is an “evil to be defeated” at all reasonable costs, including treaties and conventions adopted by the OECD, the Organization of American States and the United Nations. But in 2013, in Transparency International’s Corruption Perceptions Index, Brazil ranked number 71, a troubling position which has been fairly stable for some time.Brazil continues to be very interested in attracting foreign direct investment. The country is also progressively the global or regional headquarters for multinational corporations. But… Read full this story
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