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Can Brazil President Survive Growing Petrobras Scandal?


Mounting allegations that her party received hundreds of millions of dollars in a kickbacks scandal engulfing oil giant Petrobras have sent....1234534

Admin   13 Feb 2015       04:09:21 PM   View : 1679   Comments : 0
Country : India, Language : English, Topic : Basic, Sub Topic : General Affairs

Mounting allegations that her party received hundreds of millions of dollars in a kickbacks scandal engulfing oil giant Petrobras have sent Brazilian President Dilma Rousseff's poll ratings tumbling and could fatally undermine her.

Rousseff only embarked on a second term in office last month, having succeeded popular Workers Party (PT) predecessor Luiz Inacio Lula da Silva in 2011 after his eight years at the helm.

But the widening graft scandal, estimated at $3.8 billion and dubbed Operation Car Wash, might see her embattled administration fail to ever recover, analysts say, after it wiped billions of dollars off the market value of Brazil's biggest firm.