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Brazilian president names new economic team

Brazilian President Dilma Rousseff on Thursday nominated members of the economic team for her second presidential term starting from January 2015.

Joaquim Levy was named finance minister, replacing Guido Mantega. Levy was in charge of asset management at Brazil's Bradesco Bank, and had served as treasury secretary of former President Lula da Silva and as chief economist of the Planning Ministry in the administration of ex-President Fernando Henrique Cardoso.

The new minister of planning, budget and management will be Nelson Barbosa, who is a university economics professor, and had worked as Mantega's executive secretary and as Lula's economic policy secretary.

Alexandre Tombini, who has served as central bank president since the beginning of the Rousseff administration in January 2011, will stay on.

At a press conference following the announcement, "Levy promised a smooth transition in the government's economic policy," the state-run Agencia Brasil reported.

Rousseff won a tightly contested runoff in October's general elections for another four-year mandate.

[Source: Xinhua, Rio de Janeiro, 28Nov14]

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