Brazil's president replaces pro-austerity finance minister Joaquim Levy
December 19 , 2015
Brazil’s finance minister Joaquim Levy has been replaced following disagreements with President Dilma Rousseff and the ruling Worker's Party over his austerity policies.
Rousseff’s close ally and planning minister Nelson Barbosa will be the new finance minister.
The move comes as South America’s largest economy is struggling to recover from its worst recession in 25 years.
The outgoing finance minister said in a statement that the work done this year would put the “Brazilian economy back on track” in 2016.