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20

Brazil’s New Finance Minister Faces a Big Test After Friday’s Rout

By Tony Seruga

BRAZIL-BARBOSA-LOGISTICS-INVESTMENT

Nelson Barbosa.

Photographer: Evaristo Sa/AFP via Getty Images

Barbosa steps in amid deepening political and economic crises
Real and stocks fell Friday on news that Levy was leaving

Nelson Barbosa could, of course, turn out to be the man who fixes Brazil’s finances, tames soaring inflation and revives the sinking economy, but investors sure aren’t betting on it.

As word spread across Sao Paulo trading floors Friday that Barbosa would be the country’s next finance minister, replacing the beleaguered Joaquim Levy, markets plunged. By day’s end, the currency was down 2.6 percent, stocks 3 percent…

Brazil’s New Finance Minister Faces a Big Test After Friday’s Rout

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