President Barack Obama
President Barack Obama‘s announcement that he will visit Brazil, Chile and El Salvador in March — in what will be his first trip to South America — could result in an improvement in Brazil-U.S. ties following a significant downturn over the past two years.
Obama announced in his State of the Union address to Congress Tuesday that he will visit the three countries as part of his efforts to strengthen ties with Latin America. The five-day visit is likely to take place in the second half of March.
There is little question that Brazil, the world’s eighth largest economy and an emerging global power, will be the most important leg of Obama’s trip. Tensions between Brazil and Washington rose during the last two years of former Brazilian President Luiz Inácio Lula da Silva’s administration over, among other things, Brazil’s diplomatic support of Iran.
But now, after the Jan. 1 inauguration of Lula da Silva’s hand-picked successor, Dilma Rousseff, a former leftist guerrilla who served as his chief of staff, U.S. officials are hopeful that they will be able to rebuild bilateral ties.
In a telephone interview, Dan Restrepo, senior White House advisor on Western Hemisphere affairs, told me that Rousseff “has made quite clear in her public statements that she is looking forward to continuing and strengthening our ties. One of the reasons we are going to Brazil this early in her presidency is that we see an opportunity to continue and deepen the relationship at the highest level.” (more…)
Brazil‘s beachfront pearl Rio de Janeiro wants to issue $500 million in “Olympic Bonds” to get the host city for the 2016 Summer Olympics ready for the games.
Rio de Janeiro Mayor Eduardo Paes will ask President Dilma Rousseff and Finance Minister Guido Mantega to authorize the debt issue at a meeting next month, the mayor’s press office confirmed Tuesday. States and cities in Brazil must get federal approval for bond issues.
Proceeds from the city’s bond sale will be used to build out infrastructure and sports facilities for the summer games, the mayor’s press office said.
Brazil’s readiness to host high-profile sporting events such as the 2014 World Cup and 2016 Summer Olympics has been questioned by critics who point to the country’s outdated infrastructure, high crime rates and widespread poverty.
FIFA officials, for example, have said Brazil is behind schedule on stadium renovations and infrastructure projects key to a successful World Cup. Rio de Janeiro will host the opening and closing games at the world famous Maracana stadium.
Rio de Janeiro also received unwanted attention in November, when the government was forced to send in troops backed by armored personnel carriers to stifle drug-related violence in one of the city’s largest shantytowns.
By Jeff Fick, Dow Jones
