President of Brazil Dilma Rousseff has named economist Joaquim Levy as her new Treasury minister, from where he will take a leading role in directing the nation’s economy. Nelson Barbosa was also confirmed as Planning minister, while Alexandre Tombini will continue in charge of the Central Bank.
The changes announced today by Social Communication chief Thomas Traumann come after Levy was strongly tipped to replace Guido Mantega in the Treasury role. The new minister possesses a doctorate in economics from Chicago University.
Previously, the 53-year-old worked in the International Monetary Fund, the European Central Bank and the Interamerican Development Bank, picking up the nickname ‘Scissorhands’ over the course of his career.
He also has experience operating in the Treasury and Planning Ministries, and since 2010 has acted as investment director in the Brazilian bank Bradesco.
Analysts believe that Levy will chart a more orthodox economic course than his predecessor, attempting to cut public spending to encourage growth in the world’s seventh-largest economy.
buenosairesherald.com