The World Economic Forum Annual Meeting in Davos, Switzerland ended yesterday debating the world’s most pressing issues and long-term challenges, including inequality, climate change and terrorism. For Brazil, the forum was an opportunity to reverse the negative news flow: low growth, corruption and incompetence.
Joaquim Levy, Brazil’s Finance minister, reassured the government’s determination to attract the confidence of international markets and increase investments.
Brazil’s Finance Minister, Joaquim Levy reassured the government’s determination to attract the confidence of international markets and increase investments.
In office since January 1, when Rousseff began her second term, Levy represents the orthodox approach criticized by Rousseff in October’s presidential elections.
His presence among Rousseff’s team may be the only hope that reasonable measures will be taken to lead Brazil away from economic chaos. Levy affirmed that his goal is to build confidence and to ensure that it is easy to do business in Brazil. And when he acknowledges that they “have much to do in that area”, it is music to the international audience.
Levy said earlier this year, after a period of growth based on consumption, the Brazilian government decided to change the economic approach. “We created many jobs, we had a lot of inclusion. Then the process began to slow down, there was the commodity crisis. We decided to change, “he said to G1 São Paulo.
Well, we will see if he can make the difference. In the words of former Central Bank chairman, Arminio Fraga: Levy is an island in an ocean of mediocrity.