Brazilian political turmoil might be a process for good changes

Less than a year ago, then Brazilian President Dilma Rousseff was removed from office amid a massive corruption scandal and economic crisis that crippled Latin America’s largest country.

Now, new allegations of corruption against Rousseff’s successor – Michel Temer – have emerged, this time against the backdrop of a mixed economic recovery that has seen unemployment hitting record high, inflation dropping and economy slightly growing for the first time in two years.

In an interview with CGTN, Otaviano Canuto, Executive Director of the World Bank’s Executive Board of Directors, spoke about the economic consequences of the current political tumult in the country.

The turmoil "may affect negatively the economy only to the extent that it might jeopardize the approval of the reforms, but the timeliness of the reform not the approval. It’s a matter of months for them to get approved, and we should not lose sight of the forest as a whole," he said.

"We should keep in mind that what we are watching today is just one additional chapter of what might be a Brazilian governance revolution, a process in which a kind of relationship between private and public sector is being changed for good."

(CGTN)