Bird: Government needs political support to overcome the crisis.
World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati said during an interview on Wednesday (4) that in addition to adequate economic measures, the government needs political support to emerge from the crisis; "Ministers need political support so that they can restore the country's confidence. It is not only necessary to have good measures, but also excellent political support. It is not uncommon for a country to emerge stronger from this type of crisis, increasing growth and its risk rating," she said.
Marcelo Brandão - Reporter for Agência Brasil
World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati expressed optimism regarding Brazil's economic recovery. Four days into her visit to the country, the former Indonesian Finance Minister during the 2008 global crisis said, during an interview today (4) at the organization's headquarters in Brasília, that in addition to appropriate economic measures, the government needs political support to emerge from the economic crisis.
“Ministers need political support so they can restore the country’s confidence. It’s not just about good measures, but also excellent political support. Often a country emerges stronger from this type of crisis, increasing growth and improving its risk rating.” In response to the Petrobras crisis, she maintained the same tone: “If Brazil can manage the problem convincingly, it can emerge stronger.”
Sri Mulyani also believes that inflation in Brazil will stop growing soon, thanks to the measures the government has taken. “Inflation is the most important issue to resolve. It has been increasing, especially in the first quarter of 2015. But this should stabilize, because the government is already taking action. In Brazil, one of the concerns is restoring confidence. It is up to the Brazilian Central Bank to find the balance between restoring confidence and resuming growth,” he emphasized.
Before arriving in Brasília, the World Bank executive visited Manaus and Rio de Janeiro. In the Amazonian capital, she met with Mayor Arthur Virgílio Neto and the state governor, José Melo de Oliveira. They discussed local projects aimed at improving community services, supported by the bank.
In Rio de Janeiro, she met with Governor Luiz Fernando Pezão. The agenda focused on how to help the state face the challenges of urban development. She learned about the SuperVia train system. “The World Bank was a great partner during a very difficult time, helping with the recovery of municipalities affected by the rain. Furthermore, with the bank's loan, we are also investing in the purchase of new trains, which represents an important change in the lives of the population of Rio and the Metropolitan Region,” Pezão told the state government's official website.
In Brasília, she met with the Minister of Planning, Nelson Barbosa; the Minister of the Environment, Isabella Teixeira; and the Minister of Social Development and the Fight Against Hunger, Tereza Campello. Sri Mulyani also met with the president of the Central Bank, Alexandre Tombini, but did not reveal details of the meeting.