SAO PAULO (Reuters) – Brazil Finance Minister Fernando Haddad canceled a visit to Europe this week, the ministry stated in a press release on Sunday, amid strain from market contributors for the federal government to current spending-cut measures that had been promised.
Within the assertion, the Finance ministry stated Haddad will now stay in Brasilia through the week on the request of President Luiz Inacio Lula da Silva.
The minister can be centered on “home topics,” the ministry added, with out elaborating.
On Friday, the U.S. greenback hit its strongest closing stage towards the Brazilian actual in spot buying and selling since Could 2020, as buyers had been jittery because of an absence of particulars on the native fiscal measures and forward of the U.S. presidential election on Tuesday.
Authorities officers have stated they’d current the measures sooner or later after final weekend’s municipal elections, however they didn’t give a deadline.
Native newspaper Folha de S. Paulo reported on Friday that the federal government was unlikely to current the spending-cut measures this week, as Haddad could be in Europe.
Haddad had been anticipated to go to Europe from Nov. 4-9, though his particular schedule had not been confirmed by the federal government.
His journey plans can be resumed sooner or later, the ministry stated.
