Brazil’s Finance Minister Out for Disrespecting Law, Says Lula’s Leader in Senate

When he announced the president of the Brazilian Development Bank (BNDES), Guido Mantega, as the new minister of Finance, the leader of the government in the Senate, Aloizio Mercadante, went on to say that President Lula and everyone in the government recognized the "great contribution" that Antonio Palocci had made to Brazil during the last three years.

"He restored the country’s credibility, improved its finances and stabilized the economy," declared Mercadante.

"However, because under the rule of law the rights of all citizens must be respected and there was a case of the violation of those rights, specifically involving bank secrecy laws, President Lula decided to make immediate changes in his team and remove the head of the Caixa Econômica Federal and the minister of Finance."

Mercadante continued: "At the moment the country is going through a phase of economic calm. There is stability. It is essential to preserve this situation. Guido Mantega is someone who has long been a member of the government’s economic team.

"He has been in the government since the beginning of the Luiz Inácio Lula da Silva administration. He has been minister of Planning and the president of the BNDES. He knows that the president wants secure and stable economic policies. He knows that."

Agência Brasil


  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Brazil Supreme Justice Frees Man Accused of Killing Union Leader

A Brazilian Supreme Court justice has suspended the trial by jury of a farmer/landowner, ...

Cocaine Consumption in Brazil Stops Upswing

Cocaine consumption remained stable in Brazil between 1997 and 2004, after a period of ...

In Brazil, The Law Is Never For You When You Have Friends

Anyone wishing to understand how Brazil really works will need to also consider the ...

Brazil Senate Starts Inquiry on Money Laundering Through Bingo

A Parliamentary Investigative Commission (CPI, Comissão Parlamentar de Inquérito) has been installed in the ...

Foreigners in São Paulo Earn Double What the Locals Make

Compared with Brazilian migrants, foreign immigrants are the group of migrants living in the ...

Carrefour supermarket in Brazil

Carrefour Becomes Largest Supermarket Group in Brazil

The French group Carrefour has signed an agreement to acquire the Brazilian supermarket chain ...

For Brazilians, Vote Buying Scandal Is Just Politics as Usual, Shows Poll

Most Brazilians associate the recent charges and investigations of federal government corruption with the ...

Fooling the British, the Brazilian Way

While the British wanted slavery abolished in Brazil, Brazilians with an economy dominated by ...

First US-Brazil Civil Society Forum to Discuss in Washington Immigration Reform

Later this month presidents Dilma Rousseff of Brazil and Barack Obama of the United ...

A Mere 10% of Brazilian Youths Go to College

The number of students attending Brazilian federal universities is expected to double in the ...