Brazil economy minister rumors add to jitters

Brazilian Finance Minister Joaquim Levy gestures during a news conference on August 31, 2015, at the Planalto Palace in Brasilia, after presenting the budget for 2016 to the congressRumors that Brazil’s finance minister was about to step down Thursday added to growing jitters in the world’s seventh-biggest economy, but the real, which has plummeted this year, held steady. Finance Minister Joaquim Levy is the face of leftist President Dilma Rousseff’s tilt toward austerity reforms, cutting lavish spending that the debt-saddled government can no longer afford. On Thursday, Levy canceled a planned trip of the G20 countries in Turkey and went into a closed-doors meeting with Rousseff, before leaving without comment.

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