Brazil Survives the Petrobras Problem, For Now

Brazilian state-owned energy company Petroleo Brasileiro has overcome at least one of its immediate problems. The company, also known as Petrobras, released audited financial results from 2014 on April 22, reassuring investors of its commitment to transparency and addressing its corruption charges. But the ripple effects of the lengthy corruption investigation and Brazil's wider economic decline will continue to trouble the Brazilian government. Dissatisfied opposition parties will probably contest President Dilma Rousseff's rule over her handling of corruption. Finally, the scandal weakened Brazil's already sluggish economy, and reactivating the Brazilian economy will be a top priority for the government and Petrobras in coming years.