The Brazilian ministy of Finance, Henrique Meirelles, took part yesterday of a summit at The Organisation for Economic Co-operation and Development (OECD), in Paris. At the occasion, Meirelles claimed that Brazil’s economy is open to the world and ready to receive investments.
He criticised previous government, claiming they were protectionists, not allowing Brazil to make the most of a globalised world.
Brazil is demanding to become a member of the OECD as well as Peru. Recently, Brazil has formalized its joining request. This act has been seen as Brazil’s effort to strength relations with developed Western nations. On the contrary, the previous government prioritize liaisons with the developing and emerging economies.
After a short positive momentum when it seemed Brazil was about to get back on track mainly due to austerity measures, the country is struggling again. Facing a huge political crisis, president Temer is being heard at an electoral court by using illegal campaign donations. Depending on the hearing outcome, Temer may also be ousted from power, deepening Brazil’s political crisis.