Tag: Henrique Meirelles

• Wednesday, May 25th 2016 - 05:58 UTC

  Temer announces tough austerity measures but needs to show Congress supports him

  

  Brazil's interim president announced austerity measures on Tuesday aimed at pulling Latin America's largest economy from its worst crisis in decades, warning that a failure to act would sentence future generations to “extraordinary hardship.” Speaking with government leaders in a national televised meeting, interim president Michel Temer, 75, also banged his hand on the table while insisting he was up to the job.

• Tuesday, May 24th 2016 - 05:16 UTC

  Meirelles on Tuesday will announce spending cuts to contain a huge fiscal deficit

  

  Brazil's government on Tuesday will announce spending curbs and other measures to reduce its rising debt burden and contain a fiscal deficit as it seeks to regain the confidence of investors, Finance Minister Henrique Meirelles said.

• Thursday, May 19th 2016 - 11:57 UTC

  Meirelles unveils a dark picture of Brazil's finances and insists of pensions reform

  

  Brazil's fiscal deficit prior to debt interest payments could reach 150 billion Reais (US$42.10 billion) this year as revenues collapse amid a crippling recession economy, Finance Minister Henrique Meirelles warned on Wednesday. The deficit includes eventual losses from state electricity holding Eletrobras.

• Wednesday, May 18th 2016 - 06:01 UTC

  Orthodox economist Goldfajn confirmed as Brazil's central bank governor

  

  Brazil's interim government on Tuesday confirmed the lead economist of the country's largest private bank to head the central bank, in a further shift away from the interventionist policies that many blame for deep recession and near double-digit inflation.

• Saturday, May 14th 2016 - 09:09 UTC

  Temer's team confident it has the political support to implement tough measures

  

  Brazil's interim government said on Friday it has the political support for tough measures needed to return the economy to growth and can secure a permanent mandate once populist President Dilma Rousseff's impeachment trial is over. Presidential Chief of Staff Eliseu Padilha said the incoming government understood it was only provisional for now and had ordered portraits of Rousseff to be left hanging in federal buildings.

• Friday, May 13th 2016 - 06:58 UTC

  Temer cabinet: inflation hawk in Finance and an anti-populist in foreign affairs

  

  Brazilian acting President Michel Temer on Thursday chose leading figures from nine centrist and conservative parties for his Cabinet, which for the first time in decades has no female ministers.

• Friday, May 13th 2016 - 06:46 UTC

  Temer calls on Brazil to rally behind the “national salvation” government

  

  Brazil's acting President Michel Temer called on his country to rally behind his government of “national salvation” hours after the Senate voted to suspend and put on trial his populist predecessor, Dilma Rousseff, for breaking budget laws.

• Thursday, May 12th 2016 - 08:53 UTC

  Goldfajn considered the most probable candidate for Brazil's central bank

  

  Brazil's Vice President Michel Temer could wait until June to appoint a new central bank chief if he takes over the reins of power this week, as part of a gradual transition to replace the bank's eight-member board, his spokesman said on Wednesday.

• Monday, May 9th 2016 - 11:29 UTC

  Fitch downgrades Brazil's sovereign debt into junk territory, as political crisis deepens

  

  Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. The agency downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the suspension of unpopular leftist President Dilma Rousseff.

• Monday, May 9th 2016 - 09:04 UTC

  Brazilian prosecutors after another can of worms: the huge development bank

  

  A former Brazilian finance minister and the current head of the nation's state economic and social development bank allegedly pressured big construction firms into making campaign donations for President Dilma Rousseff, a newspaper reported on Sunday. If it proves correct it would be the first concrete lead linking the Petrobras corruption with BNDES, long suspected by Brazilian prosecution.