Recent News in Brazil.

Brazil, or the Federative Republic of Brazil, is the largest country in South America in area and population, with about 200 million people. Over the last decade it has also become one of the world’s fastest-growing economic powerhouses.

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Brazil, or the Federative Republic of Brazil, is the largest country in South America in area and population, with about 200 million people. Over the last decade it has also become one of the world’s fastest-growing economic powerhouses.  

Brazil’s success is the result of a lucky confluence of global economic trends, with countries like China hungry for its commodities that include iron ore and soybeans, not to mention the oil recently found in abundance offshore.  A surge in deal-making and the resilience of Brazil’s currency, the real, has attracted foreign investment bankers, hedge fund managers and venture capitalists. Well-educated Brazilians are returning from abroad. Compensation in some executive suites now rivals the pay on Wall Street.

The country’s meteoric rise occurred under the quiet stewardship of Luiz Inácio Lula da Silva, a former auto plant worker who served as Brazil’s president from 2002 to 2010. Wildly popular, Mr. da Silva — known as Lula inside Brazil — presided over the country during a period of significant economic growth that solidified Brazil as the center of gravity in Latin America and an increasingly important player in the world.

Mr. da Silva fostered this growth through a centrist combination of respect for financial markets and targeted social programs, which lifted millions out of poverty and narrowed the yawning income gap between rich and poor. In October 2011, it was announced that the former president has throat cancer. The disclosure of his condition came at a time when he was still admired as Brazil’s most towering contemporary political leader.

In January 2011, Mr. da Silva was succeeded by Dilma Rousseff, the country’s first female president. Her election was seen as a call to continue the economic and social policies of her popular predecessor. Ms. Rousseff served as chief of staff for Mr. da Silva and was his hand-picked candidate.

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