Temer finalizes economic team with eye on more foreign trade
Vice president Michel Temer has finalized his plans for Brazil's economic team with an eye on boosting the country's foreign trade.
The new team is meant to lift Brazil's economy out of recession as it moves toward its second year of decline.
According to local media, if the senate votes for President Dilma Rousseff's impeachment next month and Temer (pictured) become interim president, he would pick senator José Serra as foreign affairs minister.
Serra would be responsible for strengthening exports through trade agreements with major world markets. Temer's team has said that the current Workers' Party (PT) government was misguided in focusing its foreign policy on emerging markets.
With an eye on boosting investor confidence, Temer would also name former central bank president Henrique Meirelles as finance minister.
Temer is expected to formally offer the finance ministry to Meirelles next week, according to local media. A former banker with a long career in finance, Meirelles is considered an asset in providing a sense of security to foreign investors. Meirelles will then choose the new central bank president.
The same reports say that senator Romero Jucá would become planning minister and Moreira Franco — who has worked in government as a minister, governor, senator and mayor — would head a secretariat linked to the presidency that will coordinate concessions, public-private partnerships and privatizations.
As minister of planning Jucá would take control of Brazil's development bank BNDES, which is currently overseen by the ministry of development, industry and foreign trade, but it will be handed over to the planning ministry as a part of the new economic team's plans.
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