The recent decision of Brazil's lower house of parliament to impeach President Rousseff has once again brought attention to the country's struggles with corruption. The crisis has already affected Brazil’s economy. Its impact on the region and on Indian businesses in the country is yet to be seen.

Petrobras, which rose to become the fourth largest company in the world, is now battling a serious corruption scandal that has left its reputation in tatters. How did this global oil major scale such heights spectacularly and and then fall so low? There are lessons in this for India’s public sector oil companies.

The nature of the sweeping victory of AAP and Kejriwal may be unprecedented in India but not in Latin America. In Brazil, Mexico and Colombia, there are lessons for AAP and Arvind Kejriwal as they assume power in New Delhi – and also for the Congress Party as well as the BJP

The Indian government has undertaken a massive financial inclusion scheme to bring bank accounts to the poor. But poverty alleviation needs to be addressed at multiple levels for which the Latin American example of using targeted and customised conditional cash transfer programmes can help India

The reelection of President Dilma Rousseff means continuation of the slow growth of the Brazilian economy and a lower likelihood of much-needed, major political and economic reforms. India should lower its expectations on a global partnership with Brazil

Brazilian president Dilma Rouseff's bid for re-election has been ambushed in just two weeks by activist Marina Silva who is now predicted to win the October elections. If elected, Marina is likely to continue with the pro-poor policies of the current government, and she has already shown a keen interest in foreign policy. PM Modi will find Marina more proactive and forthcoming than Rouseff

The credit for significant poverty reduction achieved in the last decade in Latin America goes to the pro-poor policies of the leftist governments. The Left is expected to be voted back to power in the October elections to be held in Brazil, Uruguay and Bolivia. The increase in affordability power is good news for the Indian companies who are exporting goods to the region

Brazil follows a more decentralised form of federalism and gives special importance to the municipalities. Porto Alegre’s successful 'participatory budgeting' is a role model for the world. India can learn from both the positive and negative aspects of the Brazilian system

Latin America’s economic growth has slowed down in 2014. But the region’s fundamentals are relatively strong, and have the resilience to absorb external shocks and increase growth in the coming years. However, Argentina and Venezuela face continuing uncertainty and deterioration.

In 'Latin America Update' Gateway House lists some of the important events in Latin America over the past month