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Brazil Economy Minister Paulo Guedes not about to resign: sources By Reuters

© Reuters. Brazil’s Economy Minister Paulo Guedes gestures during a news conference in Brasilia

By Marcela Ayres

BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes has no intention of resigning, two sources from the economic team told Reuters, in an attempt to quash rising speculation that political pressure for more public spending could force him to quit.

Doubts about Guedes’ future have grown since two more of his special secretaries left the ministry last week and local media reported at the weekend that central bank president Roberto Campos Neto is being lined up to replace him.

The two sources, who are close to both Guedes and Campos Neto and spoke to Reuters on condition of anonymity, said the two men agree on the need to control spending so that Brazil can start to reduce its debt burden following a surge in emergency spending to combat the coronavirus pandemic.

Both sources

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