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The Central Bank downgraded its growth forecast for 2015 to 0.13%.
Brazilian President Dilma Rousseff kicked off a second term vowing to tackle corruption and revamp the economy.
The protests were organized by the Free Pass movement, the force behind the 2013 protests that rocked Brazil.
Brazil has raised the terrorist threat level for the Summer Olympic Games it will host in 2016 following the Paris attacks.
Rousseff said the choice of Shanghai as the headquarters of the BRICS Bank is “positive”.
The Brazilian President vowed to continue her social inclusion schemes but spur investment at the same time.
The Latin American economy has boosted ties with the BRICS with China now Brazil’s biggest trade partner.
China-Brazil trade is expected to exceed $90 billion this year.
In naming her 39 ministers, Rousseff has to carefully balance the demands of the nine parties that make up her ruling coalition.
Lagarde said the IMF is disappointed with US inaction to ratify reforms and will now move forward without Washington.
