Luciana Lima           Reporter Agência Brrasil

Brasília - Minister of Finance, Guido Mantega, says that although Brazil will not escape the crisis, it has the means and tools to deal with it. “We are not in the center of the storm. The danger is not here in Brazil. We have a solid, sound fiscal situation and I can promise that our fiscal situation will improve over time,” said the minister. “ However, there will be consequences in Brazil. Even so, we have the instruments to minimize any problems. And at the same time, we believe this may not last very much longer.”

Mantega went on to say that Brazil was even better prepared today than it was in 2008 and that it had a cushion of over $300 billion in international reserves along with the means to control the exchange rate and could introduce mechanisms to halt the devaluation of the dollar. The minister pointed out that Brazil has government-run banks, something many other countries do not have, and they can come to the rescue with resources if needed to stimulate consumption.

The minister concluded by saying that although the crisis was centered in Europe and the United States, emerging nations could have an effective participation in resolving it. “The G-20 could make an important contribution to a solution. If the G-7 wants to, it can call on the G-20,” he said.

Allen Bennett – translator/editor The News in English

Link -Mantega diz que Brasil não está imune à crise, mas tem como enfrentá-la