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© getty: Brazilian President Jair Bolsonaro Troubles come to the Brazilian economy not as single spies but in battalions. Especially at a time of rising U.S. interest rates, this hardly bodes well for the international economy. Brazil is Latin America’s largest economy, so a full-blown Brazilian economic crisis could have a domino effect on the rest of Latin America’s troubled economy. It could do so in much the same way as economic troubles in Thailand triggered the 1998 Asian economic crisis. Even before the COVID-19 pandemic delivered Brazil the severest of public health and economic blows, the country had a troubled economy. The pandemic found a Brazil still struggling to kickstart its economy after the unusually deep 2015-2016 economic recession. It also found Brazil with an uncomfortably large budget deficit and a record-high public debt level. 

United statesLuiz inacio lulaInternational monetary fundBrazilian supreme courtLatin americaBrazilian presidentGross domestic productPresident luiz inacio lulaLuiz inacio lula da silvaAsian financial crisisFinancial crisisGovernment debtPresidency of jair bolsonaroBiden covid 19 relief packageJair bolsonaroBiden joe