6 hrs ago
Eduardo Bolsonaro backs Marcelo Kayath for Brazil finance ministry
Eduardo Bolsonaro said Marcelo Kayath could be a good finance minister if Flavio Bolsonaro wins the election.
Kayath is an investor and former banker.
He founded a company called QMS Capital.
He also worked for Credit Suisse for about 20 years.
Eduardo said Kayath could help bring more foreign investment to Brazil.
Kayath said Brazil needs a plan for sustainable growth.
He supported careful spending cuts while protecting social programs.
However, the campaign said that no final choice had been made.
Eduardo Bolsonaro called investor Marcelo Kayath an excellent potential finance minister if Flavio Bolsonaro wins Brazil’s election.
Kayath founded QMS Capital, spent two decades at Credit Suisse and led its Latin America operations.
Eduardo said Kayath could attract foreign investment and has strong relationships with JPMorgan and Goldman Sachs.
Kayath said Brazil needs sustainable growth, targeted spending adjustments and protection for social programs.
The campaign said no decision had been made and that no frontrunner had emerged for the post.
- Who
- Eduardo Bolsonaro recommended Marcelo Kayath as a possible finance minister for Flavio Bolsonaro; Luiz Inacio Lula da Silva is the opposing presidential candidate mentioned.
- What
- Kayath was described as a potential choice for Brazil’s finance ministry, although no appointment has been decided.
- Where
- The reporting took place in Sao Paulo and Brasilia, Brazil.
- When
- The comments were reported on September 11, ahead of the October presidential election.
- Why
- Eduardo said Kayath could help attract foreign investment and address Brazil’s economic challenges while preserving social programs.
Case for Kayath
Uncertainty over appointment
Finance ministry candidacy
Case for Kayath
Eduardo Bolsonaro called Kayath an excellent choice who could attract foreign investment and promote Brazil abroad.
Uncertainty over appointment
The campaign said other candidates remained under consideration and that no frontrunner had emerged.
Economic adjustments
Case for Kayath
Kayath said Brazil needs adjustments and more efficient, sustainable social policies to get the country back on track.
Uncertainty over appointment
Kayath did not endorse indiscriminate cuts, saying reductions should be surgical and should not be designed merely to please financial markets.
Key facts
- Potential minister
- Marcelo Kayath
- Supporter
- Eduardo Bolsonaro
- Election context
- Flavio Bolsonaro and Luiz Inacio Lula da Silva were described as being in a virtually tied race.
- Professional background
- Kayath founded QMS Capital and spent two decades at Credit Suisse.
- Policy priority
- Kayath emphasized a sustainable-growth agenda.
- Spending position
- He said expenditure cuts should be surgical rather than indiscriminate.
- Selection status
- The campaign said no decision had been made and no frontrunner had emerged.
Quotes
Eduardo Bolsonaro
Former congressman and adviser to Flavio Bolsonaro’s presidential campaign
“Kayath is recognized as one of the key architects of the IPO boom of the 2000s. He is an expert at selling Brazil’s story abroad and attracting foreign investment, which is exactly what the country needs right now.”
theprint.in
“Those adjustments should not be aimed at pleasing financial markets. They should be aimed at improving people’s lives and making social policies more efficient and sustainable.”
theprint.in
Sources
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