Brazil Amnesty Program still has some Flaws

Economic officials are concerned with the changes made by Deputy Manuel Júnior (Brazilian Democratic Movement Party, PMDB, of Paraíba) in the bill that regularizes funds Brazilians illegally sent abroad. The congressman, who is the bill's sponsor in the Chamber of Deputies, reduced the income tax rate and the fine to be applied to the regularized assets and eliminated the destination of proceeds to the fund that would cover losses some states will have with the reform of the Tax on Circulation of Goods and Services (ICMS). But there are serious legal problems in the original bill that the government sent to Congress that can render it unfeasible, former Federal Revenue secretary Everardo Maciel warned in an interview with Valor.

Brazil Economists See Less Room for Cutting Rates Next Year

Brazil analysts forecast that the central bank will have less room for cutting rates next year, as inflation expectations for 2016 rose for the 10th straight week.