Former central bank president, Henrique Meirelles and Finance Minister, Joaquim Levy, during the 10th National Industry Meeting in Brasilia
The former president of the Central Bank Henrique Meirelles said on Wednesday that it has not received concrete invitation to take over the Ministry of Finance and who always had a cordial relationship with President Dilma Rousseff. "There is no concrete invitation and I do not comment on speculation, do not comment on any rumor," said Meirelles told reporters when asked if he would take over the farm.
Rumors that the finance minister Joaquim Levy will be replaced by Meirelles returned to take shape in recent days. Wednesday, this rumor has dominated the attention of investors in the foreign exchange market and determined the direction of the dollar, which has been falling since the beginning of the day.
Earlier, the National Industry Meeting in Brasilia, the former president of BC said it is necessary to recognize the severity of the current Brazilian economic scenario, but stressed that the country is much stronger than in past decades. Meirelles said that we need to look at Brazil not only in the short term, but in a way to allow sustainable growth. The speech of former president of BC was acompnhada by the current chief minister, Joaquim Levy, who was in the front row of the audience.
"These figures point to a recessionary environment that there is no doubt that we must recognize the seriousness," said Meirelles, on economic time. According to him, the current situation must be tackled vigorously and with fiscal adjustment, but it takes the long view.
Former President of the Central Bank noted that the devaluation, although caused problems, as for indebted companies, has a positive side to the production and export of the country. "It is clear that the exchange rate does not solve the long term problem, but it is important that he take a breath, a base for companies, "he said.
