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New Brazil Finance Minister Pledges Continuity After Selloff

  • Nelson Barbosa replaced Joaquim Levy in top economic job
  • Brazilian assets declined on concerns about fiscal policy
Joaquim Levy.

Joaquim Levy.

Photographer: Simon Dawson/Bloomberg
Updated on

Brazil’s incoming Finance Minister Nelson Barbosa pledged to maintain fiscal discipline and sustain economic policies after financial markets hit new lows Friday on the departure of Joaquim Levy.

Barbosa will be sworn in on Monday as finance minister, inheriting a deepening economic crisis marred by political turmoil, eroding fiscal accounts and investor skepticism.