Mantega

A YEAR ago Brazil's finance minister, Guido Mantega, declared that the world had entered into a "currency war" .

But Mr Mantega, it was big of you to complain about China too, this time. Thanks for that.

Echoing the theme, Brazil's Finance Minister Guido Mantega said the world wants to see a stronger U. S. economy.

Guido Mantega, Brazil's finance minister, had the courage to say what many were thinking: that the world is in the middle of a currency war.

At the end of November Mr Mantega said that he would provide the BNDES with only half as much extra funding in 2011 as it has had this year.

While Mr. Mantega said the main intent of the bond purchases is to win a bigger voice at the IMF, the move is a diversification away from U.

Mr Mantega did not provide details of any proposals.

Brazil's finance minister Guido Mantega said the top IMF role shouldn't be reserved for a European.

Mantega whose country holds the rotating presidency of the bloc said each country will take action according to its own situation.

But the invasion of foreign capital that so worried Mr Mantega has now turned into a shambolic retreat.

In October Mr Mantega tripled a tax on foreign investment in fixed-income securities to try to hold back the flood.

The BRICS' contributions to the proposed pool will be decided by size of each country's foreign exchange reserves, Mantega said.

"It does no good at all to just throw dollars from a helicopter, " said Guido Mantega, Brazil's finance minister.

'We're going to see what we can do to help the European Union get through this situation, ' Mr. Mantega said.

"Our objective is to reduce foreign investment into Brazil, " Finance Minister Guido Mantega told reporters in Sao Paulo.

'Throwing money out of a helicopter doesn't do any good, ' Mr. Mantega said.

Mantega said: "It is now necessary to cut government budgets through the way to make water cooling. "

In early April, Guido Mantega, finance minister, announced a doubling in the tax due on personal loans, from 1. 5 to 3 per cent a year.

Mr Mantega habitually refers to foreign "currency manipulators" as the source of Brazilian industrialists' woes.

'The IMF belongs to all its member nations, ' said Ms. Lagarde, after a lunch meeting with Brazilian Finance Minister Guido Mantega.

Mr Mantega now accepts that expansionary fiscal policy has helped drive up interest rates and the currency, something he previously denied.

Later that day the finance minister, Guido Mantega, spelt out the implications for monetary policy.

Mr. Mantega said Brazil divides candidates into two groups: more conservative and less conservative.

This complaint by Guido Mantega, Brazil's finance minister, is entirely understandable.

Guido Mantega, the Brazilian finance minister, is warning of new currency wars.

Brazil's finance minister, Guido Mantega, insists that "it's not true that the government is hostile to regulatory agencies. "

Brazilian Finance Minister Mantega September proposed a "rate war" .

On Sept. 27, its finance minister, Guido Mantega, first described the currency tensions as practically an "exchange war, a trade war. "

But she is likely to face pressure from economists within her left-wing party, including Mr. Mantega, to intervene more heavily.

Brazil's finance minister, Guido Mantega, has been outspoken on this issue.

One reason Mr. Mantega may be changing his tune on the currency is inflation.

China will purchase $50 billion and India may announce similar funding, according to Brazilian Finance Minister Guido Mantega.

In a recent interview, Mr. Mantega said Brazil wouldn't oppose Ms. Lagarde just because she is European.

However, Mr. Mantega pegged 2011 growth at closer to 3. 2%, although that was down from previous forecasts for a 3. 8% expansion.

"The government has to take action to avoid any type of excesses, " said Mr Mantega.

"How we can help is through the IMF, " Mr Mantega said. "Not another way. "

"The way it is, this proposal is obscure and we do not agree with it, " said Guido Mantega, finance minister.

But frankly, Mr Mantega, you need to get off our case on that one.

Brazilian finance minister Guido Mantega speaks out against devaluations