Crisis-hit Brazil replaces 'Scissorhands' finance minister

Finance Minister Joaquim Levy (L) will be replaced by current Planning Minister Nelson Barbosa (R), a close ally of RousseffBrasília (AFP) – Underfire Brazilian President Dilma Rousseff replaced Friday the finance minister dubbed “Scissorhands” for his swingeing spending cuts, after credit raters downgraded the country to junk status in an economic and political crisis. US-trained Joaquim Levy will be replaced by current Planning Minister Nelson Barbosa, a close ally of Rousseff seen as less free-marketeering in his approach, her office said in a statement. “The president is grateful for the dedication of Joaquim Levy, who played a fundamental role in tackling the economic crisis,” it said.

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