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Dilma confirms Finance minister Mantega is stepping down in October

Tuesday, September 9th 2014 - 03:27 UTC
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“Guido has already told me that he cannot stay in the government for a second term due to personal reasons, which I ask you to respect,” said Rousseff “Guido has already told me that he cannot stay in the government for a second term due to personal reasons, which I ask you to respect,” said Rousseff
The economist has been in the Finance Ministry since 2006, when he assumed during ex-president Lula da Silva's second term in office The economist has been in the Finance Ministry since 2006, when he assumed during ex-president Lula da Silva's second term in office

President of Brazil Dilma Rousseff has affirmed that current Finance minister Guido Mantega will not carry on in his post should the Workers' Party (PT) candidate win a second term as head of state in October's presidential elections.

According to Rousseff, who announced the future change in her economic team in an interview with Estado de Sao Paulo's daily, Mantega will opt to leave the post in October for “eminently personal” reasons.

“Guido has already told me that he cannot stay in the government for a second term due to personal reasons, which I ask you to respect,” she underlined.

The politician has been in the Finance Ministry since 2006, when he assumed during ex-president Lula da Silva's second term in office. But the 65-year-old has been the focus of fierce criticism recently, with Brazil's economic slowdown and an inflation level of 6.5% losing Mantega popularity.

Rousseff, meanwhile, faces a daunting battle against Socialist Party candidate Marina Silva, who looks set to be the head of state's most dangerous rival in October's polls.

According to recent opinion polls, Silva and Rousseff would tie a first round scheduled for October 5, with the former predicted to win by seven points in a theoretical run-off.
 

Categories: Economy, Politics, Brazil.

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  • 313toBioBio

    Headlines read about wall street optimism for Marina's Brazil. It looks like a pump and dump before Argentina erupts into chaos. Mantega himself said the next administration will have a crisis. Marina means a good investment climate?? Where's the guns to get rid of the corruption and crack?.

    Sep 09th, 2014 - 04:02 pm 0
  • ChrisR

    Dumbass Dilma has left Mantega in position when she should have fired him in 2011 when he lied to the International Investors about the growth rates (or rather the LACK of growth).

    Without doubt this was the start of the downward slope for the economy of Brazil. Messing Mr. Market about was the final nail in the coffin.

    Too late now.

    Sep 09th, 2014 - 05:12 pm 0
  • Jack Bauer

    Firing Mantega is too little, too late. Not that his inept actions were/are the only cause of Brazil's economic and social woes, there are plenty of other indicators to explain why it's going down the drain : the PT's incomPeTence, big government, corruption, overspending, disastrous foreign policy...and the list could go on forever.
    Just to get an idea of the PT's idea of running government, and their penchant for creating jobs (out of nothing) for their pals, today I read an article referring to the whereabouts of a few of the old union leaders, linked to the PT, and who caused more problems than anything else : despite their notorious lack of qualification for their current jobs - they were factory floor workers - they are all in cozy positions in Brasilia, earning salaries of roughly US$ 200,000.00 / year...plus 'benefits'. They had better start looking for work, 'cause come October, agw, they're out !!

    Sep 09th, 2014 - 05:51 pm 0
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