Bras\u00edlia \u2013 The Brazilian minister of Finance, Guido Mantega, stated that the financial crisis is left behind in Brazil, and that the country is in a process of \u201cfull fledged\u201d recovery. According to him, the Brazilian economy is already growing at 4.5% to 5%. The information was supplied by BBC Brazil<\/i>.<\/p>\n
To Mantega, the success of Brazil contrasts with the obstacles faced by developed economies, which are starting to show signs of a \u201cslow, difficult and gradual\u201d recovery. He claimed that tomorrow (5th), at the G20 meeting in London, he is going to call for government intervention on the economy to be maintained until the global recovery is consolidated.<\/p>\n
The minister said that he does not believe in the possibility of the world economy relapsing. According to him, the recovery will happen at different paces, showing that developed nations \u201care the most affected\u201d and that they need emerging countries to drive growth.<\/p>\n
\u201cWe are the ones who are going to generate growth. One or another European country might become offended or upset, but that will not prevent the G20 from becoming the most important institution in the world economy,\u201d he asserted.<\/p>\n
Mantega said that at tomorrow\u2019s meeting, Brazil is also going to present a proposal for regulating the international financial system. \u201cThere has been no consolidation of a new architecture yet, one with clearer rules and boundaries for the action of speculative capital. Brazil already has such an architecture, and I am going to present a proposal for implementing it on an international scale.\u201d<\/p>\n
The minister also said that Brazil and other so-called emerging countries are going to call for the speeding up of the reform process of the International Monetary Fund (IMF). Due to the group\u2019s pressure, the year of the reform has been advanced from 2013 to 2011, but Mantega wants to make it clear that the percentage of quotas is going to come from developed countries. <\/p>\n
\u201cJanuary 2011 is a good date, but I want to anticipate things. We propose that 7% of the shares currently held by wealthy countries be passed on to emerging ones, and that we have equality of shares,\u201d he said. This, he added, would enable countries such as Brazil, India and China to pour more money into the fund. \u201cWe are aware of the fact that, even before this crisis, the BRICs [Brazil, Russia, India and China] and emerging nations were already driving growth. After this crisis, that will be even truer.\u201d<\/p>\n
To the minister, the strengthening of the G20 and weakening of the G8 \u2013 comprised of the world\u2019s seven most industrialized countries plus Russia \u2013 is happening \u201cspontaneously.\u201d \u201cI had never seen this many G20 meetings taking place. It already is the most important forum for the world economy, and representatives the most important countries in the world, with over 80% of the global GDP.\u201d<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
Minister of Finance Guido Mantega stated that the country is growing 4.5% to 5%, a figure that contrasts with the slow recovery of the world\u2019s leading economies. He does not believe in a relapse.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-32075","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"Minister of Finance Guido Mantega stated that the country is growing 4.5% to 5%, a figure that contrasts with the slow recovery of the world\u2019s leading economies. He does not believe in a relapse.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/32075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=32075"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/32075\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=32075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=32075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=32075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}