Brazil: IMF Praises Fallen Palocci and Welcomes Incoming Mantega

Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement today on the resignation of Brazilian Finance Minister Antonio Palocci:

"I have just learned of Minister Palocci’s resignation. I would like to take this opportunity to emphasize Brazil’s achievements under Minister Palocci’s stewardship.

"Sound macroeconomic policies, supported by steps to strengthen the underlying policy framework and institutions and important fiscal structural reforms, have been critical in attaining a welcome degree of macroeconomic stability.

"This stability has been key to Brazil’s encouraging recent growth performance, which in turn is reflected in indications of progress in reducing poverty.

"On these foundations, further progress can be made in the period ahead toward securing a higher living standard for all Brazilians.

"I look forward to working closely with Minister Mantega, who has a distinguished record as Minister of Planning and president of the National Development Bank (BNDES)."

Tags:

Ads

You May Also Like

Brazil Looks for a Greater Role in Building Libya

Brazil's Foreign minister, Celso Amorim, discussed the need for a direct flight between Brazil ...

Sea & Soul

Bahia is much more than Salvador. You have Itaparica and several other smaller islands, ...

The Latest Minister Accused of Corruption in Brazil Is Close Friend of President Rousseff

Fernando Pimentel, Brazil’s Trade and Industry minister, is facing pressure to explain his personal ...

A World’s First: Brazil Shows Live NBA Games on Internet

The American National Basketball Association announced that a Brazilian Web portal will be the ...

Brazilian economist Plínio Soares de Arruda Sampaio

Lula’s Closeness to Chavez Only Makes Brazil More Alluring to Bush

The Bank of the South is already a reality. Enthusiasts say it is another ...

Brazilian Stretch of Atlantic-Pacific Corridor Is Ready

Brazil, Bolivia and Chile have announced that the interoceanic corridor, from the Atlantic to ...

The Brazilian Landless Movement Won’t Rest Until They Get Their Revolution

One of the most radical social movements in Brazil is the Landless Movement (Movimento ...

Brazil’s New Definition of Foreign Aggression Bullies Neighbor Countries

The Brazilian government has sent a strong message to those (restless) neighbors that could ...

When Lover Is a Four-Letter Word

A hit new TV show in Brazil compares women to mares. Meanwhile the mainstream ...

Germans Consider Stepping Up Purchase of Brazil’s High-Tech Goods

German minister of Economy, Michael Gloss, suggested that Brazil might increase its sales of ...