If a meme were able to translate Brazil, at least last Tuesday (14), it would be “expectation and reality”.
The new Minister of Finance, Fernando Haddad (PT), made a moderate speech in his first press conference after his appointment. By confirming Bernard Appy as special secretary for tax reform, praising the capital market, promising a balance between fiscal and social responsibility and pledging to deliver his proposal for the new fiscal framework as soon as possible, the former mayor of São Paulo lived up to the his nickname of “the most toucan of PT members”.
This is the “expectation” side.
On the “reality” side, the Chamber of Deputies approved, at the end of Tuesday night, a change in the State-Owned Companies Law that allows Aloizio Mercadante to assume the presidency of the National Bank for Economic and Social Development (BNDES).
The maneuver of the mayor, Arthur Lira (Progressives), anticipates a political arrangement already oiled for the next government. After confirming that Mercadante at the BNDES was a fact and not a rumour, Lula declared that privatizations were over.
In the field of reality, already in practice, the Central Bank recorded its warning about the risks that a reversal of reforms, such as yesterday’s, and the use of political banks, as expected by Mercadante in the BNDES, would have a sure outcome: the high inflation, not economic growth.
In this Wednesday’s episode (14), CNN Money analyzes the profile that is being formed in the economic team and the reaction of the financial market to the arrangement of the new government.
Presented by Thais Heredia and Priscila Yazbek, the CNN Money it presents a balance of the news subjects that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.
*Posted by Tamara Nassif
Source: CNN Brasil
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
