Home Administration Former Minister Joaquim Levy Was Probed for Future Economic Team, Say Informed Sources

Former Minister Joaquim Levy Was Probed for Future Economic Team, Say Informed Sources


President-elect Jair Bolsonaro‘s economic team has polled former Finance Minister Joaquim Levy to join the government, a source familiar with the matter said on Thursday.

The position that the minister could occupy was not commented by the source, who requested anonymity. The interest in Levy’s eventual participation in the government comes from the appreciation of Paulo Guedes, indicated by Bolsonaro to Fazenda, for his work. Both have a PhD in economics from the University of Chicago.

Levy led the finance ministry in the second administration of former President Dilma Rousseff, but left before completing her first year in office over disagreements over loosening fiscal efforts amid economic recession and the intense political crisis that stuck or attenuated many of the adjustment measures that it has proposed over the course of its management. He was also Secretary of the Treasury of Rio de Janeiro in the first government of Sergio Cabral.

In addition to promoting a strong spending spree, as a minister he unsuccessfully sought a large reversal in subsidies, a decrease in resources earmarked for System S, and the re-creation of CPMF.

Reacting to the deterioration in public accounts and lack of government cohesion to tackle the problem, Brazil lost under the management of Levy as finance minister the degree of investment by rating agencies Fitch and Standard & Poor’s.

After leaving the ministry, Levy assumed the position of chief financial officer of the World Bank, where he continues today. Wanted via the institution’s press office, he did not comment.

Indefinition On BNDES

The same source told Reuters that the name to head the National Economic and Social Development Bank (BNDES) “has not been decided yet.”

He also pointed out that the nominees for the state government’s Bolsonaro “not necessarily” will leave the list set for the team of the economy in transition, which already has 11 members besides Guedes.

In the group are Rubem Novaes and Carlos da Costa, names that have already been aired in the press as possible choices for the BNDES.

See below 12 names of the economy that will be part of the transition team:

1. Paulo Guedes — appointed to the command of the Ministry of Economy, which will unite the folders of Finance, Planning and Industry, Foreign Trade and Services (MDIC)

2. Adolfo Sachsida — researcher at the Institute of Applied Economic Research (Ipea) and a PhD in Economics from the University of Brasília (UnB) and a postdoctoral degree from Alabama University

3. Carlos da Costa — former Director of Planning, Credit and Technology at BNDES, holds a Master’s and PhD in Economics from the University of California at Los Angeles (UCLA)

4. Marcos Cintra — PhD in Economics at Harvard, is professor at FGV and president of Finep (Financier of Studies and Projects)

5. Abraham Weintraub — Executive Director at CES (Center for Safety Studies), holds a degree in Economics from USP, holds a Master’s degree in Business Administration from FGV and an MBA from FGV / Brazil, CUHK / China, RSM / Holanda, UNC / USA and TEC / Mexico

6. Arthur Weintraub — holds a degree in Law from USP, he has a Master’s and PhD in the area of ​​Social Security

7. Hussein Kalout — political scientist and current Special Secretary for Strategic Affairs of the Presidency, is Professor of International Relations and Harvard Licensed Researcher

8. Roberto Castello Branco — Director at Fundação Getúlio Vargas (FGV) in Rio, former Vale director and former Petrobras adviser, holds a PhD in Economics from FGV and a postdoctoral degree from the University of Chicago

9. Waldery Rodrigues Junior — currently general coordinator of the Secretariat of Economic Policy of the Ministry of Finance, holds a degree in Engineering from the Technological Institute of Aeronautics (ITA), with a PhD in Economics from UnB

10. Carlos Von Doellinger — former Secretary of Finance of the State of Rio de Janeiro, former President of Banerj, holds a Master’s degree in Economics and is a retired researcher at Ipea

11. Marcos Troyjo — graduate in Political Science and Economics from USP, PhD in Sociology of International Relations from USP, diplomat, member of the Advisory Board of the World Economic Forum and director of BRICLab at Columbia University

12. Rubem Novaes — PhD in Economics from the University of Chicago and collaborator of the Liberal Institute-RJ, he was a professor at EPGE / FGV, director of BNDES and president of Sebrae