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Your email address will not be published.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

The Brazilian Army Wants Me

In the great scheme of things, getting my military exemption done is not an ...

Concession of Highways and Railroads Is No Privatization, Says Brazil President

Brazilian president Dilma Rousseff and Finance minister, Guido Mantega, both denied that the announced ...

Brazilian Industry Braces Itself for Drastic Price Increases in Bolivian Gas

Brazil’s all powerful industrial lobby doubts that Bolivia will remain a reliable supplier of ...

Brazil’s Lula Stands Up for Ministers Charged With Corruption

Brazilian President Luiz Inácio Lula da Silva defended, Thursday, August 25, the Ministers of ...

Brazil Pays Homage to Kyoto Accord

In homage to the Kyoto Protocol, which went into effect on Wednesday, February 16, ...

French Filmmaker Faces 8 Lawsuits in Brazil for Documentary on Fishing Village

French documentary maker José Huerta is facing eight legal proceedings, including one criminal charge, ...

American Group Condemns U.S. Decision Against Brazilian Steel

The American Precision Metalforming Association (PMA) today expressed “great disappointment” over the International Trade ...

Rescue from Sea

Surveying the panorama, I saw mile after mile of developed beaches fronted by high-rise ...

Brazil Northeast’s Worst Drought in 50 Years Harms Agriculture and Threatens Blackout

The Brazilian Northeast is suffering its worst drought in decades, threatening hydro-power supplies in ...

High Interest Rates Not Hurting Brazil, Says Lula

Brazilian President Luiz Inácio Lula da Silva affirmed today that the hike in the ...