Brazil Acting President Temer Names Cabinet on Rousseff Exit
- Temer names Henrique Meirelles as his finance minister
- Calls for unity, economic recovery in first official speech
The Long Road Ahead for Brazil's Economy
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Brazil’s acting President Michel Temer moved swiftly to form a cabinet his first day on the job, pledging to improve investment conditions and protect welfare programs in a bid to pull Latin America’s largest economy out of a crushing recession.
Temer on Thursday named as his finance minister Henrique Meirelles, a former Wall Street banker and central bank chief renowned for taming inflation. Meirelles is scheduled to speak to reporters Friday about his plans for the job. The appointment is part of a strategy to revive investor confidence in an economy battered by surging consumer prices, a near-record budget deficit and double-digit unemployment.