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New Brazil Finance Minister to Tackle Pension, Labor Reform
Source: Associated Press
New Brazil Finance Minister to Tackle Pension, Labor Reform
By JENNY BARCHFIELD AND MAURICIO SAVARESE, ASSOCIATED PRESS
BRASILIA, Brazil — May 13, 2016, 4:32 PM ET
Brazil's new finance minister pledged Friday to take on even potentially thorny reforms if they prove necessary to jump-start the stalled economy, even as the country's interim President Michel Temer came under increasing fire for appointing an all-white, all-male Cabinet.
Temer, the former vice president, temporarily assumed the top job on Thursday after the Senate voted to impeach President Dilma Rousseff, suspending her from office and abruptly ousting nearly her entire government.
The 75-year-old career politician from the economic capital of Sao Paulo pledged that hauling Brazil out of its worst recession in decades would be his first order of business, and his appointment of Henrique Meirelles, the former head of Brazil's Central Bank, was well-received by financial market.
The economy has been predicted to contract nearly 4 percent this year after an equally dismal 2015, and inflation and unemployment are hovering around 10 percent, underscoring a sharp decline after the South American giant had long enjoyed stellar growth.
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By JENNY BARCHFIELD AND MAURICIO SAVARESE, ASSOCIATED PRESS
BRASILIA, Brazil — May 13, 2016, 4:32 PM ET
Brazil's new finance minister pledged Friday to take on even potentially thorny reforms if they prove necessary to jump-start the stalled economy, even as the country's interim President Michel Temer came under increasing fire for appointing an all-white, all-male Cabinet.
Temer, the former vice president, temporarily assumed the top job on Thursday after the Senate voted to impeach President Dilma Rousseff, suspending her from office and abruptly ousting nearly her entire government.
The 75-year-old career politician from the economic capital of Sao Paulo pledged that hauling Brazil out of its worst recession in decades would be his first order of business, and his appointment of Henrique Meirelles, the former head of Brazil's Central Bank, was well-received by financial market.
The economy has been predicted to contract nearly 4 percent this year after an equally dismal 2015, and inflation and unemployment are hovering around 10 percent, underscoring a sharp decline after the South American giant had long enjoyed stellar growth.
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Read more: http://abcnews.go.com/International/wireStory/brazils-suspended-leader-vows-fight-fill-urges-unity-39083339
