Rio, June 9, 2003 (Agência Brasil - ABr) - On Friday (6), the Minister of National Integration, Ciro Gomes, acknowledged that high interest rates constitute an obstacle for the country. "With the except of a half dozen bankers, do you imagine that there is anyone in Brazil who can affirm that high interest rates are good?" was his reply to a question posed by a reporter at the headquarters of the BNDES (National Economic and Social Development Bank), in Rio. He made it clear, on the other hand, that there would be not be "any crack in the cohesiveness of the Administration's inclination to follow President Lula's leadership and confront this question in the most capable manner possible."

According to the Minister, the assessment that high interest rates are very bad is shared by the President, the Minister of Finance, the president of the Central Bank, Vice-President José Alencar, and Gomes himself. He added that there are various ideas about how to knock rates down, and everybody has his own. Neverless, he pointed out that the person who is employed and paid by tax-payers to act in a way that is very sure, capable, and competent to make interest rates go down is the Minister of Finance, Antônio Palocci. "All power to him," he affirmed. (DAS)