Treasury officials walk out on Brazil's spending plans

Treasury officials walk out on Brazil's spending plans

Corporate & Sovereign Strategy Economy & Policy Bonds Brazil Capital Markets

Officials from Brazil's National Treasury have resigned after Economy Minister Paulo Guedes asked for a "waiver" to spend an extra BRL30 billion ($5.3 billion), saying spending limits can be broken to increase funding for social programs. Bruno Funchal, special treasury secretary, and Jeferson Bitencourt, National Treasury secretary, submitted their resignations along with their respective deputies, Gildenora Dantas and Rafael Araújo, the economy ministry said in a statement on Thursday. The spe

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