Haddad cancels trip to China to discuss Argentine crisis with Brics bank

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Busy internal agenda with fiscal framework and tax reform led to the review of the trip, say interlocutors. Minister will be able to participate in the bank meeting, but in a virtual way. Finance Minister Fernando Haddad, in file image REUTERS/Ueslei Marcelino Finance Minister Fernando Haddad canceled his trip to China to attend a meeting of the New Development Bank (NBD), the Brics Bank, based in Shanghai. The purpose of the trip, originally requested by President Luiz Inácio Lula da Silva, would be to discuss alternatives to help Argentina, which is experiencing an economic crisis and rising inflation in the middle of an election year. There is a possibility, however, that the minister will be able to participate virtually in the NBD meeting. The institution is currently chaired by former president Dilma Rousseff. According to interlocutors from the Ministry of Finance, the cancellation is related to the internal agenda, which is busy. In Brazil, the minister will coordinate negotiations with the Federal Senate for the approval of the fiscal framework, the new rule for public accounts, already approved by the Chamber of Deputies. In addition, the expectation is that the tax reform on consumption, another priority of the government in the Legislative, will start to move more quickly in the Chamber of Deputies. ‘After the framework, we will focus our attention on a tax reform for all’, says Lira presented on the 6th of June. The government is working for the proposal to be approved by the Chamber of Deputies by mid-July, when the National Congress goes into recess. The mayor, Arthur Lira (PP-AL), said last week that he will put the tax reform on the agenda of the house, but does not guarantee, however, the proposal’s vote this semester.

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