Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, January 18th 2025 - 06:55 UTC

Tag: Fernando Haddad

  • Monday, December 30th 2024 - 10:58 UTC

    Hard times ahead for Lula and Brazilian Real, the most devalued currency in 2024

    Lula da Silva recovering from head injuries and surgery

    US dollar expectations in the Brazilian market are beating forecasts having reached R$ 6.30 in December, (from 4.85 in January 2024) making the Brazilian Real one of the largest currencies of emerging countries, as the most devalued during 2024, despite the Central Bank pumping some US$ 17 billion to the market hoping to contain the slide.

  • Saturday, December 21st 2024 - 10:13 UTC

    Brazil's Congress passes Constitutional Amendment regarding spending cuts

    ”Today we are delivering to Brazil savings of at least R$ 60 billion (around US$ 10 billion),” Senator Randolfe Rodrigues explained

    Brazil's Congress enacted Constitutional Amendment 135/24 regarding the fiscal spending cut package, Agencia Brasil reported. The new legislation stemming from the Proposed Amendment to the Constitution (PEC) 45/24 made changes to mandatory revenues and extended the Untying of Union Revenues (DRU) in a move to improve the federal government's fiscal balance, it was explained.

  • Wednesday, December 18th 2024 - 22:17 UTC

    US dollar soars in Brazil amid fiscal uncertainty

    Haddad hopes the US dollar will settle down, eventually

    Amid uncertainty stemming from President Luiz Inácio Lula da Silva's planned measures, the US dollar soared Wednesday against the Brazilian real, hitting a new record of R$ 6.26 = US$ 1 while the stock market fell above 3%, also driven by the 0.25 percentage point interests cut by the US Federal Reserve (Fed).

  • Friday, November 29th 2024 - 10:24 UTC

    Brazil's devaluation hits all-time high exchange rate

    Haddad's measures were deemed insufficient to tackle the country's fiscal imbalance

    The US dollar fell an iota short of crossing the R$ 6 barrier after measures announced by the Brazilian Government of President Luiz Inácio Lula da Silva raised uneasiness in South America's largest country Thursday. The local currency has fallen 23.4% this year and 3.36% this week alone.

  • Friday, April 19th 2024 - 21:14 UTC

    Brazil's Finance Minister hopes G20 will tax the super‑rich to tackle world's debt crisis

    Haddad recalled that Biden's government was holding thoughts along the same lines regarding the wealthiest people

    During his trip to Washington DC to attend International Monetary Fund (IMF) and World Bank (WB) engagements, Brazil's Finance Minister Fernando Haddad said he hoped the G-20 would approve later this year a new taxation for the planet's super-rich so that the global economy could adjust amid an unprecedented debt crisis, Agencia Brasil reported.

  • Friday, March 1st 2024 - 10:49 UTC

    G-20 economy ministers fail to reach consensus due to ongoing wars

    “As far as the financial track is concerned, there was consensus on everything we discussed. We didn't discuss geopolitical conflicts in our meetings,” Haddad explained

    The summit of Economy Ministers of the G-20 in São Paulo failed Thursday to reach a unanimous declaration due to discrepancies over the ongoing armed conflicts in Ukraine and Gaza, it was reported. ”We came very close (...) it was almost by a word,“ Brazil's Fernando Haddad said during a press conference. Brazil, which this year holds the rotating presidency of G-20 wanted to ”leave aside” all geopolitical tensions but to no avail.

  • Thursday, January 4th 2024 - 10:48 UTC

    Lula should run for reelection in 2026, Haddad says

    Haddad acknowledged that at some point the issue of Lula's succession will come up. “And I think there should be some concern about that”

    Brazilian Finance Minister Fernando Haddad said Wednesday that there was consensus among the ruling coalition that President Luiz Inácio Lula da Silva should seek reelection in 2026.

  • Wednesday, September 20th 2023 - 09:48 UTC

    Mercosur's future at stake in Argentina's elections, Brazilian minister says

    “I don't know what will become of Mercosur if the agreement isn't closed and we have an 'exotic' election result in Argentina,” Haddad said

    Brazilian Finance Minister Fernando Haddad said in New York that he believed the future of Mercosur hinged on the outcome of this year's presidential elections in Argentina, Agencia Brasil reported. He also denounced France's attempt to delay the Mercosur-EU trade agreement from becoming effective.

  • Tuesday, August 29th 2023 - 10:02 UTC

    Brazil: Temporary tax on the super-rich enacted

    Lula's measure must be approved by Congress within 120 days or be dropped

    Brazilian President Luiz Inácio Lula da Silva Monday enacted a provisional measure (MP) providing for the collection of taxes of between 15% and 20% on exclusive funds with a single shareholder, Agência Brasil reported.

  • Tuesday, August 29th 2023 - 09:41 UTC

    New financing deal reached for trade between Argentina and Brazil

    The destiny of Argentina and Brazil are unfailingly tied, Massa told Lula and Haddad (pic)

    Argentina's Economy Minister and presidential candidate Sergio Massa Monday announced after a meeting with his Brazilian colleague Fernando Haddad and with President Luiz Inácio Lula da Silva that an agreement had been reached to finance imports worth US$ 600 million, among other achievements.

Previous