Rui Costa criticizes Roberto Campos Neto’s deliberate conduct and actions amid the announcement of the spending cut package and historic rise in the dollar; PT member also defends the appointment of Gabriel Galípolo to the presidency of the BC
Last Thursday (29), the Minister of the Civil House, blamed the president of the Roberto Campos Neto, due to instability in the financial market. According to him, Campos Neto generates a “permanent feeling of instability” and frequently criticizes Brazil. Costa expressed that he is in a “countdown” to the appointment of Gabriel Galípolo as the new president of the Central Bank, who will take office next year, emphasizing the need for a leader who resides in the country.
Rui Costa’s statements came after the rise in the dollar, which surpassed the R$6 mark, coincidentally after the announcement of a package that includes spending cuts and exemption from Income Tax for income of up to R$5,000 per month. “What cannot be done, which caused us indignation, is all this questioning today [do mercado] It was deliberately, in our opinion, motivated and ‘started’ by the current management of the Central Bank, which, in my opinion, in a political vision of boycotting the government, created a permanent feeling of instability”, stated the minister.
For the minister, it is much more productive when you have people taking care of the country they are going to live in, and not people who are already living in another country and harming their country of origin. “We are counting down to have, not a Central Bank that looks at the Executive, but rather a Central Bank that looks at Brazil, run by those who live in Brazil and don’t live in Miami. For those who have their daughter, their family, residing in Brazil. For those who have hope in their personal and professional future, linked to Brazil and not abroad”, he stated.
He also attributed the market instability to the closure of American stock exchanges due to a holiday, predicting that the dollar’s price should stabilize as soon as the market realizes the government’s commitment to the fiscal framework. Rui Costa argued that the Income Tax exemption did not have a negative effect on market reactions, remembering that this proposal was already present in President Lula’s electoral campaign.
Furthermore, the minister announced that President Luiz Inácio Lula da Silva will send the Senate the nomination of three new directors for the Central Bank, replacing those whose terms will end at the end of December. Among the appointments is that of Monetary Policy, currently held by who should assume the presidency of the institution.
*Report produced with the help of AI
Posted by Victor Oliveira
