Economics
Fraga Says He Could Avert Brazil Credit Downgrade
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Arminio Fraga, Brazilian presidential candidate Aecio Neves’s finance-minister designate, says he can implement policies to enable the world’s second-largest emerging market to stave off a credit downgrade.
An “abrupt fiscal adjustment” wouldn’t be required, he said in an interview yesterday, the day after Neves made a surprise comeback and beat candidate Marina Silva for a spot in the Oct. 26 runoff. Fraga, 57, said he would implement spending cuts and post a higher primary budget surplus over the next two or three years.