Brazil’s interim President calls for trust

Brazil’s interim President calls for trust

Brazil’s interim President calls for trust

Written by Staff Writer

13 May, 2016 | 7:13 am

Brazil’s new interim President Michel Temer called on his country to rally behind his government of “national salvation,” after the Senate voted to back the impeachment trial of Dilma Rousseff.

Temer, a 75-year-old centrist, told that Latin America’s biggest country would overcome an ongoing crisis marked by a deep economic recession, political volatility and a sprawling corruption.

Therefore Michel Temer will now have to demonstrate whether the impeachment he helped orchestrate against his former ally Dilma Rousseff will revive the fortunes of Latin America’s largest economy.

Country’s GDP was 3.8% last year and is on pace to shrink at least that much in 2016. Debt, deficits and interest rates have skyrocketed. Unemployment has reached double digits and inflation is hovering near 10%.

In a ceremony held on Thursday, Mr. Temer´s business-friendly cabinet was sworn in, including Finance Minister Henrique Meirelles, who was the head of the central bank from 2003 through 2010, during the presidency of Ms. Rousseff´s predecessor and mentor, Luiz Inácio Lula da Silva.

Mr. Temer took the helm a few hours after Ms. Rousseff stepped down to face an impeachment trial in the Senate. She will be suspended for as long as six months during the trial. If Ms. Rousseff is ousted, he would finish out her term, which runs through the end of 2018.

The 180 days allocated for the trial to take place expire on 8 November.

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