Dilma Rousseff Administration

BRAZIL POLITICS - Report 18 Dec 2015 by Murillo de Aragão and Cristiano Noronha

The replacement of Joaquim Levy by Nelson Barbosa in the Ministry of Finance is another negative signal from the government that the fiscal adjustment might not be taken as seriously as before. Concerned with the reaction from the markets, the Chief of Staff, Jaques Wagner, and the Central Bank president, Alexandre Tombini, gave statements defending the adjustment and monetary policy.

The choice of Barbosa marks the resumption of full control of the economy by Dilma and a sign that unorthodox practices such as the use of mandatory deposit to finance the program "My House, My Life" could once again happen, as well as the possibility of the infamous fiscal maneuvers.

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