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MercoPress, en Español

Montevideo, March 26th 2025 - 08:37 UTC

Tag: Fernando Haddad

  • Thursday, March 20th 2025 - 11:26 UTC

    Brazil: Haddad says Selic adjustment stemmed from Campos Neto era

    The measure was heavily criticized by Congressman Farias

    After Brazil Central Bank's (BCB) Monetary Policy Committee (Copom) raised Wednesday the benchmark Selic interest rate from 13.25% to 14.25% annually, Finance Minister Fernando Haddad warned that such a move had been planned since December under former BCB President Roberto Campos Neto, who had been appointed during the Jair Bolsonaro years.

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  • Thursday, March 13th 2025 - 10:40 UTC

    Trump's 25% tariffs: Lula's gov't favors negotiation over retaliation

    Lula's orders were to negotiate, Haddad explained

    The Brazilian government criticized US President Donald Trump's decision to impose a 25% tariff on steel and aluminum imports. The protectionist move is foreseen to cause the South American country around US$ 1.5 billion loss in exports, primarily affecting semi-finished products. Despite its potential impact on the steel sector, minimal effects on Brazil's GDP and total exports are projected. The Government of President Luiz Inácio Lula da Silva favors negotiation over retaliation.

  • Wednesday, February 12th 2025 - 10:55 UTC

    Brazil’s Finance Minister: Trump's tariffs damage global trade

    Haddad will discuss the matter deeper with representatives of Brazil's steel and aluminum sectors when he returns from his Feb.14-20 Middle East tour

    Brazil's Finance Minister Fernando Haddad stressed Tuesday that US President Donald Trump's decision to impose 25% tariffs on steel and aluminum imports was “counterproductive” to the global economy. “The global economy loses with this, with this retraction, with this de-globalization that is happening,” he added.

  • Wednesday, January 29th 2025 - 09:17 UTC

    Taxing the “super rich” pays off for Brazil's gov't

    “We're just bringing the super-rich into the same tax bracket as the middle class,” said Barreirinhas

    Brazilian Finance Minister Fernando Haddad's policy of taxing the “super rich” yielded unprecedented returns of R$ 20.6 billion (US$ 3.32 billion) to the South American country's coffers in 2024, Federal Revenue Secretary Robinson Barreirinhas confirmed Tuesday. The strategy focuses on exclusive investment funds and offshore assets, it was explained.

  • 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.

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