Brazil finance minister to leave office and contest elections

Brazil’s Finance Minister Henrique Meirelles confirmed he is leaving his post to stand for election in October. This year, Brazilians must elect a new president, as well as the members of both congressional houses and state governors. Recently affiliated with President Temer’s Brazilian Democratic Movement (MDB), Meirelles did not specify which position he will vie for.

“This is the end of a very important stage in my life. I’ve always put myself to the service of Brazil, regardless of which party is in command. I’ve had the pleasure of helping the country emerge from major economic crises at two moments,” he noted.

He talked about his own legacy, saying that, after he took office in 2016, he had to face unemployment, increased poverty, and lower income. “We had the courage to submit Brazil to the right economic decisions. Today, inflation has reached its lowest levels in history; recession has been overcome, and we’ve started to create jobs,” he added.

Eduardo Guardia, Executive Secretary at the Finance Ministry, is to take Meirelles’s place. Guardia has the support of President Temer to make further advancements towards fiscal adjustment and economic recovery, Meirelles went on to note.

Meirelles assumed office at the Finance Ministry in May, 2016, after President Temer reached the presidency. The minister won the approval of a cap on public spending and participated in the development of the labor reform as well as the negotiations surrounding it. Meirelles, however, also faced defeats, like the postponement of the vote on the pension overhaul.

Translated by Fabrício Ferreira