Top landowner won’t be Brazil’s financial minister: official


BRASILIA/SAO PAULO (Reuters) – The arch executive of Brazilian bank Bradesco SA will not be a country’s subsequent financial minister, a supervision executive pronounced on Thursday, after dual internal newspapers reported he incited down a pursuit in a vital reversal for recently re-elected President Dilma Rousseff.

Luiz Carlos Trabuco is out of a using for a post, a executive pronounced on condition of anonymity. The executive declined to endorse or repudiate that Trabuco had been offering a job.

Since Rousseff won a runoff opinion on Oct. 26, she has nonetheless to name a new financial apportion for her second term. Brazil’s economy is struggling with delayed growth, high acceleration and fallout from a flourishing crime liaison during state-run oil association Petroleo Brasileiro SA.

Trabuco, a CEO of a country’s second-largest private bank, was seen as a comparatively market-friendly name who could have rebuilt ties with a private zone after years of disappointment with Rousseff’s leftist, interventionist policies.

Two Brazilian newspapers reported on Thursday that Trabuco was expected to spin down a invitation done by Rousseff due to his commitments with a bank.

Rousseff on Thursday discharged reports that she had offering a pursuit to Trabuco, though did not repudiate that she had done an offer.

“I never reliable anything. You guys always get it wrong,” Rousseff told internal news group Broadcast.

Rousseff is again deliberation executive bank arch Alexandre Tombini and former emissary financial apportion Nelson Barbosa to a job, Folha de Sao Paulo reported citing a source tighten to a president.

Both economists are tighten Rousseff aides and would paint a delay of a revolutionary policies blamed for pulling Brazil into retrogression this year, analysts say.

Joaquim Levy, a conduct of Bradesco’s investment arm, Bradesco Asset Management, has assimilated a competition for a ministry, a supervision executive told Reuters. Levy is a former Treasury arch who is reputable by a market.

A orator for a boss pronounced progressing that there would be no proclamation of a new financial apportion on Thursday since Rousseff would attend a wake of a former probity minister.

Brazil share prices rose this week on conjecture that Rousseff would designate Trabuco, 63, one of a few bankers who gets along with a president. Shares did not trade on Thursday due to a holiday in Sao Paulo.

During her re-election campaign, she lambasted rivals for carrying links to what she called miserly bankers who wanted to conduct a economy for their benefit.

(Additional stating by Luciana Otoni; Editing by Nick Zieminski and David Gregorio)

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